The new service facilitates trades through Bitstamp UK Ltd, the exchange Robinhood acquired for $200 million last year. Customers can trade major tokens including Bitcoin, Ethereum, and XRP within the company's primary investing app. To differentiate its offering, Robinhood has integrated its AI-powered tool, Cortex Digests, which analyzes market data and news to help users interpret price movements.
Financial terms for the service include no trading, custody, or account maintenance fees. Instead, the company charges a 0.1% foreign exchange fee for currency conversions, which increases to 0.3% for trades executed on weekends. Jordan Sinclair, president of Robinhood UK, noted that the launch is a critical step in the firm's ambition to become an all-in-one investment destination for British investors. While the company has secured the necessary anti-money laundering registration, it cautioned that assets held through Bitstamp UK are not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service.
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