Bitstamp handles Robinhood's UK crypto debut as FCA licensing window nears

Robinhood (HOOD) began allowing eligible UK customers to buy and sell more than 50 cryptocurrencies in its main investing app this week.

Trades are routed via Bitstamp, the exchange it acquired for $200 million last year. British retail investors can already access stocks, ISAs, options, and futures on the platform.

Zero trading fees, but an FX charge still applies

Robinhood’s offer has no trading fees, charges to keep an account, or fees for custody. It charges users for currency conversion.

UK users pay a 0.1% foreign exchange fee, and that climbs to 0.3% on some weekend conversions. The listed coins include Bitcoin (BTC), Ether (ETH), XRP, and Hyperliquid (HYPE).

Jordan Sinclair, president of Robinhood UK Ltd and general manager of Bitstamp UK Ltd, said, “A new wave of UK investors sees digital assets as an important part of a diversified portfolio.”

He added that the launch is “another major step toward becoming the all-in-one investment platform for the UK.”

Bitstamp UK is registered as a cryptoasset service provider with the Financial Conduct Authority (FCA). Cryptocurrency held with Bitstamp UK is not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service, so the usual consumer safeguards will be unavailable.

… Continue reading the full article at the original source below.