Cryptocurrency-enthusiasts already use Robinhood in the states for their traditional equities and innovative cryptocurrency trading needs.
This privately held finance startup company is in fact valued over a billion dollars and joins the ranks of the unicorn club.
Robinhood rose to the ranks of the unicorn club by becoming one thing for a specific audience. It showed that by focusing on eliminating fees and appealing to a design friendly mobile oriented consumer base, they could raise the bar and build a rabid base. With incentives such as earning a stock for referring friends and zero-fee trading, Robinhood became an app that people loved. It is now a millennial household name where investors own stocks such as SNAP, TSLA, NIO, BYND, and other more volatile stocks.
But being valued over a billion means that the startup will have to find more consumers to share its Robinhood blessings, it is compelled to increase its userbase.
The leadership team at Robinhood is aiming to do just that by going over to Great Britain.
The Silicon Valley fintech disrupter is now in the process of expanding into the United Kingdom by obtaining its U.K. broker license.
The Robinhood UK Broker License Approval
Robinhood received approval by the Financial Conduct Authority to conduct operations in the United Kingdom. As such U.K. citizens will receive Robinhood services when it officially launches. The official launch shouldn’t be too long now as the hard part (regulatory approval) is now finalized.
Its new subsidiary, Robinhood International, will lead the charge and will have its own leadership and team.
The finance firm will have to keep a couple of tips in mind as they expand into a new territory. Consumer preferences might vary and many a company have stumbled in their initial foray into international markets. Robinhood is quite aware of these difficulties and have already started operations into user research, according to TechCrunch.
Product market fit is a crucial concept and one that will be vital for Robinhood as it grows and seeks to become a public company over the next few years. In addition to product market fit, Robinhood must account for its competition in the zero-commission sector.
The Robinhood U.K. License Is Necessary To Remain Strong
A popular one in the U.K. is Freetrade, an app that launched in the first half of 2018 after a crowdfunded campaign. It aimed to expand to the rest of Europe in over the course of this year. One can see that it makes sense for Robinhood to launch in a specific way that appeals to users and captures their attention. The Robinhood U.K. license is one small building block in becoming a significant entity with a significant global user-base.
Robinhood will likely start with the U.K. and expand to the rest of Europe in a similar fashion to Freetrade.
Robinhood already has several advantages over Freetrade as it has operated for a longer time-frame and provides an overall seamless experience.
Fintech entrants in the trading space are shaking things up.
– This article was originally posted at CryptoTraderNews
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