Robinhood (NASDAQ:HOOD) attempted two failed launches in the United Kingdom, but now looks set to make its mark.
Early next year, the zero-commissions pioneer will offer access to 6,000 U.S. stocks and provide 5% interest to users on their cash holdings with the broker. However, options and foreign shares won’t be available initially on its British platform.
This U.K. expansion is a significant milestone for Robinhood (HOOD), following its recent profitability in Q2 and its eager anticipation for international expansion as a key source of future growth.
“There’s a genuine embrace of technology and innovation in the U.K. that continues to make it an excellent place for business,” expressed co-founder and CEO Vlad Tenev, emphasizing the country’s extensive financial legacy.