Robinhood Secures UK Crypto License Amid Fierce Competition
Ryan Cohen’s Robinhood has finally secured UK crypto license approval after years of false starts. The company, which had initially planned to launch in the country back in 2020, has faced stiff competition from established players like Revolut.
The US powerhouse's registration with the FCA comes ahead of a critical five-month window starting September, during which firms must lodge their license applications to comply with the impending 2027 framework. The new framework will introduce strict market integrity standards and tailored rules for stablecoins, including reduced capital buffer requirements from 2% to 1%.
Robinhood has tapped Jordan Sinclair, a former executive at Freetrade, to spearhead its operations in the UK. However, the company still faces challenges, including product rollout asymmetry that may hurt its efforts to capture market share.