Robinhood will broaden cryptocurrency trading in Europe and launch brokerage providers in the United kingdom in the coming weeks.
Crypto Revenue Declines, Robinhood Still Determined to Expand Services in Europe and United kingdom. Photo: CNBC
Revealed in its third quarter 2023 monetary report, on line stock trading platform Robinhood stated:
“With our experienced team, we will soon launch brokerage operations in the UK. As a new step in our global expansion strategy, we are also planning to launch cryptocurrency trading in the EU, following the launch in the UK.”
Crypto Revenue in the Third Quarter of “the major five ETH holders” fell fifty five% to just $23 million in contrast to the very same time period final quarter.
Since this summer season, Robinhood has begun working recruitment adverts in the United kingdom to put together for its presence in the land of fog. However, the giant’s methods go towards the vast majority, as most cryptocurrency businesses are temporarily abandoning this marketplace, due to the new rigid regulatory framework productive from October 8th. Recently, the British royal family members also passed a bill to freeze unlawful cryptocurrencies, devoid of a court buy.
June 2023, Robinhood gave Eliminate Cardano (ADA), Polygon (MATIC) and Solana (SOL) following the SEC sued Binance and Coinbase. Present, Robinhood features providers for 15 coins onlywhich includes Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Avalanche (AVAX).
The company’s stock selling price fell five.eight% following the announcement of its third-quarter 2023 monetary report, decrease than analysts’ forecasts. Over the previous yr, HOOD has acquired 18%, outperforming the S&P 500’s 14% acquire.
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