Robinhood Expands to UK Crypto Market with Over 50 Digital Assets
Roadmap to becoming an all-in-one investment platform for the UK, Robinhood has launched cryptocurrency trading in the country. The expansion includes more than 50 digital assets, such as Bitcoin and Ethereum, alongside traditional stocks and shares ISAs, equities, options, and futures.
The new feature is provided through Bitstamp UK Ltd, which is registered with the Financial Conduct Authority as a cryptoasset service provider. However, it's essential to note that cryptocurrency held through Bitstamp UK is not covered by the UK’s Financial Services Compensation Scheme or Financial Ombudsman Service.
Roadmap to becoming an all-in-one investment platform for the UK, Robinhood has launched cryptocurrency trading in the country. The expansion includes more than 50 digital assets, such as Bitcoin and Ethereum, alongside traditional stocks and shares ISAs, equities, options, and futures.
The company is positioning its offering as a lower-cost and more transparent alternative to UK crypto platforms that can incorporate wider spreads or additional fees into transactions. No trading, account maintenance, or custody fees are charged by Robinhood, but a 0.10% foreign exchange fee applies, with a 0.30% weekend FX fee applicable between Friday at 5 p.m. ET and Sunday at 5 p.m. ET.