Robinhood Secures FCA Crypto Registration in the UK Ahead of New Regulatory Regime
Key Takeaways
- •Robinhood's UK subsidiary was added to the FCA's cryptoasset register on July 31, confirming full compliance with the regulator's anti-money laundering requirements.
- •Robinhood reported Q2 2026 revenue of $1.31 billion, up 32% year-over-year, with net income increasing 48% to $573 million and net deposits reaching a record $21.7 billion.
- •Total value locked on the Robinhood Chain has reached nearly $400 million, but remains at approximately 10% of Base's current TVL despite Robinhood having a market capitalization more than double that of Coinbase.
- •HOOD shares have declined approximately 26% over the past month after facing rejection at the $120 level, even amid strong fundamentals and broader market gains.
- •The UK's new comprehensive crypto regulatory framework is expected to open for applications by the end of September, extending oversight beyond AML compliance to include consumer protection and market integrity.
Robinhood (NASDAQ: HOOD) has secured regulatory registration to offer cryptocurrency services in the United Kingdom, marking a significant step in the trading platform's international crypto expansion.
The company's UK subsidiary was added to the Financial Conduct Authority's (FCA) register of cryptoasset firms on July 31. The registration confirms that Robinhood has fully complied with the FCA's anti-money laundering (AML) requirements under the regulator's existing cryptoasset regime, which is limited to financial crime compliance. More than 50 companies are currently registered under the framework, including Ripple, Kraken, BlackRock, and BNY.
The approval arrives shortly before the United Kingdom's comprehensive crypto regulatory framework takes effect. The application window for the new authorization process is expected to open by the end of September and close by the end of February. Under the new FCA rules, firms already registered with the regulator will have a significant advantage in obtaining full authorization. The forthcoming regime is expected to extend beyond AML compliance to cover areas such as consumer protection, operational resilience, and market integrity, bringing the UK closer to the comprehensive approach already implemented in the European Union under the Markets in Crypto-Assets (MiCA) regulation.
The FCA register listing is available at
Robinhood Chain TVL Approaches $400 Million
The total value locked (TVL) on the Robinhood Chain has surged to nearly $400 million as the network's on-chain ecosystem continues to expand. TVL, a widely used metric that measures the total value of assets deposited in a blockchain's protocols, serves as an indicator of ecosystem adoption and activity. However, Robinhood Chain's TVL remains at roughly 10% of Base's current TVL, underscoring a substantial gap between the two blockchain networks. Base is Coinbase's Ethereum layer-2 scaling network.
This development comes as Robinhood commands a market capitalization more than double that of Coinbase. Some market participants have argued that the broader Robinhood Chain ecosystem remains undervalued until its TVL approaches parity with Base.
Strong Q2 2026 Financial Results
Robinhood reported robust financial results for the second quarter of 2026. Year-over-year revenue surged 32% to $1.31 billion, while transaction-based revenue climbed 44% to $776 million. Net income increased 48% to $573 million, and adjusted EBITDA rose 35% to $741 million.
The company also recorded a record $21.7 billion in net deposits during the quarter. Total platform assets climbed 32% year over year to $369 billion. Average revenue per user (ARPU) increased 24% to $187, and Robinhood Gold subscribers grew 39% to 4.8 million.
HOOD Stock Under Selling Pressure
Despite the strong performance of the S&P 500 in 2026 and Robinhood's solid fundamentals, HOOD shares have been moving sideways. Over the past month, the stock has declined approximately 26% after facing rejection at the $120 level.
Analyst Mind Investor noted on X that he reduced his position by 50% at $119. He believes the current pullback may still have room to extend to the downside before another major buying opportunity emerges, and that investors should wait patiently for a more favorable market setup.