Robinhood halts UK launch of trading app
Tuesday, July 21, 2020
Robinhood has postponed the launch of its popular stock-trading app in the U.K. indefinitely, CNBC reports.
The Menlo Park, California-based fintech firm told people signed up to its U.K. waitlist Tuesday that it had put the brakes on its global expansion ambitions to focus primarily on its home market.
“A lot has changed in the world over the past few months, and we’ve made the difficult decision to postpone our U.K. launch indefinitely,” a Robinhood spokesperson said in a statement. “As a company, we are refocusing our efforts on strengthening our core business in the U.S.”
“Although our global expansion plans are on hold for now, we’re committed to democratising finance for more people around the world. We look forward to the day when we can bring this mission to the U.K.”