Robinhood secured approval from the UK’s Financial Conduct Authority on July 31, finally clearing the path to offer crypto services in Britain after delays and setbacks. The approval places Robinhood among just fifty companies officially registered to operate crypto trading in the UK, a vital step for a firm long on the sidelines.
The road here wasn’t smooth. In 2020, the company scrapped its initial UK launch, disappointing a 250,000-strong waitlist as it refocused on domestic issues. An attempted acquisition of Ziglu in 2022 also fell through. Only this year did Robinhood make a formal UK debut, even unveiling a statue of its founder in London’s financial district and naming Jordan Sinclair, ex-Freetrade executive, to lead its UK efforts.
Standing Out in a Crowded Field
Despite its strong US presence and aggressive low-fee strategy, Robinhood faces tough competition from entrenched players like Revolut. Its brand isn’t yet household in the UK, and delays in product rollout may limit its ability to quickly grab market share. The company’s arrival comes as the UK regulator prepares new rules for crypto firms, including stablecoin standards slated for 2027. In a notable softening, the FCA recently reduced proposed capital buffer requirements for stablecoins from 2% to 1%, signaling a more industry-friendly stance.
