Robinhood Secures UK Crypto License, But Faces Stiff Competition

After a series of false starts that must have left British investors feeling somewhat jilted, Robinhood has finally secured the much-coveted FCA approval to offer crypto services in the country.

This entry onto the official registry, finalised on July 31, marks a significant milestone for a company that has spent years hovering at the edge of the British market.

During a London keynote address titled "The World is Flat", the firm teased the arrival of its digital asset services to an audience that has grown weary of waiting.

The UK's crypto registry is a rather short list of some fifty companies that includes brokers eToro and Interactive Brokers.

Robinhood Faces Strong Competition

The journey to this point has been arduous.

In 2020, Robinhood dramatically abandoned its initial British launch, leaving a 250,000-strong waitlist in the lurch to focus on its domestic troubles.

A later attempt to acquire the crypto platform Ziglu in 2022 also collapsed, adding to the sense of a stalled crusade. It was only in 2023 that the firm made its formal debut, complete with a statue of its legendary namesake in London’s financial district.

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