Robinhood Expands UK App into Cryptocurrency with Zero-Fee Trading
Roger that! Robinhood has expanded its UK investing app into crypto, giving eligible customers access to more than 50 digital assets. The service operates through Bitstamp UK, which is registered with the Financial Conduct Authority (FCA) and acquired by Robinhood for $200 million last year.
The company said there are no trading, custody or account maintenance fees. However, customers will pay a 0.1% foreign exchange fee when converting currencies, while some weekend conversions carry a 0.3% fee.
In addition to the new crypto offerings, Robinhood is introducing Cortex Digests for Crypto, an AI-powered tool that uses generative AI to explain market moves and provide users with a simple market summary without making them dig through multiple sources.