, a stocks, ETFs and crypto investment app, has been given the green light to operate as a broker in the U.K.
Allowing the firm to now launch its offerings in the U.K. market, the firm's subsidiary, Robinhood International, has received a broker's license from the country's financial watchdog, the Financial Conduct Authority (FCA), the firm announced on Wednesday.
With the news, Robinhood also revealed that it's appointed former TransferWise exec Wander Rutgers as president to lead its U.K. operations from a new London office.
At TransferWise, Rutgers had most recently served as head of treasury and product, after a time as head of banking and expansion, according to his LinkedIn profile. Before arriving at Robinhood, he'd also led product at investment and savings app Plum.
On the new U.K. license, Rutgers said:
Back in January, the firm received a "BitLicense" from New York Department of Financial Services, bringing its U.S. coverage to 30 states.
App icon image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.