Robinhood (HOOD) has begun rolling out cryptocurrency trading to eligible customers in the UK, allowing users to buy and sell more than 50 digital assets directly within its main investing app through Bitstamp, the long-serving exchange it acquired for $200 million last year.
The rollout, which starts this week, adds cryptocurrencies to its existing stocks and shares ISAs, equities, options, and futures products in a single application, according to a statement shared with The Block.
Robinhood said the service will launch with zero trading fees, no account maintenance fees, and no custody fees. However, UK customers will pay a 0.1% foreign exchange fee, which rises to 0.3% for certain weekend conversions.
The offering includes assets such as BTC, ETH, XRP, and HYPE. Cryptocurrency trading is provided through Bitstamp UK Ltd, which is registered with the UK Financial Conduct Authority as a crypto asset service provider. Robinhood noted that crypto holdings through Bitstamp UK are not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service.
"A new wave of UK investors sees digital assets as an important part of a diversified portfolio," Jordan Sinclair, President of Robinhood UK Ltd and GM of Bitstamp UK Ltd, said. "With today’s launch, we're taking another major step toward becoming the all-in-one investment platform for the UK."
