U.S. fintech Robinhood announced on Wednesday it received authorization from the Financial Conduct Authority (FCA) to operate as a broker in the UK. According to Robinhood, the authorization will enable us to bring its investing platform to customers in the UK and is a “critical step” to achieve our mission of democratizing finance for all.
Along with the authorization, Robinhood also announced it has appointed Wander Rutgers as the new President of Robinhood International. Rutgers will be responsible for leading the UK business and oversee Robinhood’s new London office.
“Wander has a deep background in fintech, joining us from Plum, where he spearheaded the investing and savings product. Before that, Wander led product, compliance, and operations teams at TransferWise, and was instrumental in expanding into new markets.”
Speaking about his new position with the company and the FCA authorization, Rutgers stated:
“Today marks the beginning of a new chapter for Robinhood, and we’re excited to take the first important step towards bringing our investing platform to customers in the U.K. I’m thrilled to be a part of Robinhood and our effort to expand into a new international market.”
Founded in 2013 and publicly launched in 2015, Robinhood is on a mission to democratize finance for all. The company noted it believes its financial system should work for everyone and not just a few.
“We offer commission-free trading for stocks, ETFs, options, and cryptocurrencies. Democratizing our financial system. Securities by Robinhood Financial (Member SIPC). Crypto by Robinhood Crypto (licensed by NY Dept. Financial Services).”