Robinhood Secures FCA Approval to Offer Crypto Services in the UK
Key Takeaways
- •Robinhood was added to the FCA's crypto asset registry on July 31, satisfying the regulator's money laundering regulations required to operate legally in the UK.
- •The FCA's crypto register currently includes just over 50 approved firms, with notable names such as PayPal, BlackRock, Revolut, and Gemini.
- •Robinhood's earlier attempt to enter the UK market through a 170 million acquisition of Ziglu Limited in 2022 fell through amid valuation cuts and shifting market conditions.
- •The UK is preparing a new comprehensive crypto regulatory framework with an application window running from September through February 28, 2027, and an expected effective date in late October 2027.
- •The FCA estimates that the enhanced regulatory regime could bring 3 to 4 million additional customers into UK crypto markets by increasing consumer confidence.
Robinhood has been added to the United Kingdom's registry of approved crypto asset firms, joining a select group of companies licensed to provide cryptocurrency services in the country.
The US-based retail trading platform, which went public in 2021 and is known for popularizing commission-free stock trading, has been expanding its cryptocurrency offerings as part of a broader international growth strategy.
According to Financial Conduct Authority (FCA) records, Robinhood was included in the registry as of July 31. The listing confirms that the trading platform satisfies the FCA's Money Laundering Regulations (MLRs), which all crypto asset providers must meet to operate legally in the UK.
The FCA's crypto register currently includes just over 50 approved firms. Notable names on the list include PayPal, BlackRock, MoonPay, Bitstamp, Revolut, and Gemini. The Bank of New York Mellon was another recent addition, having been added to the register on June 22.
The registration marks a significant milestone for Robinhood, which first launched its cryptocurrency services in 2018. The company's path to the UK crypto market has been years in the making. In 2022, Robinhood attempted to enter the UK by acquiring FCA-registered Ziglu Limited in a deal reportedly worth 170 million. That agreement ultimately fell through amid valuation cuts and shifting market conditions.
Robinhood subsequently launched its own UK entity in 2023 using a waitlist model, with full trading operations commencing in 2024.
Robinhood Enters UK Crypto Market Ahead of New Regulatory Regime
Robinhood's arrival in the UK crypto market coincides with the regulator's preparations to open applications for a comprehensive new regulatory framework. The UK's existing crypto regulations have primarily centered on anti-money laundering (AML) measures. The expanded regime will introduce rules covering capital requirements, market abuse, and stablecoin standards.
The UK's post-Brexit regulatory path represents a separate effort from the European Union's Markets in Crypto-Assets (MiCA) regulation, which began phasing into effect across EU member states in 2024, creating a harmonized framework for crypto-asset service providers.
The authorization window is set to open next month, running from September through February 28, 2027. The new regulatory regime is expected to take effect in late October 2027.
The FCA estimates that the enhanced regulations could bring 3 to 4 million additional customers into UK crypto markets by increasing consumer confidence in the sector.