Crypto-friendly Robinhood inches closer to UK with local CEO appointment


Cryptocurrency-friendly buying and selling platform Robinhood is shifting ahead with plans to launch providers in the UK with a brand new main native appointment.

Robinhood has appointed former Barclays government Jordan Sinclair as the brand new CEO of its United Kingdom entity, in response to knowledge from the Monetary Conduct Authority.

In keeping with FCA, Sinclair was approved by the authority to carry out the CEO position at Robinhood’s U.Okay. arm on July 18.

Previous to becoming a member of Robinhood, Sinclair was a managing director on the European fintech agency Freetrade for 13 months, according to his LinkedIn profile. He additionally labored as a director of group technique on the monetary agency Barclays and a company banker at Wells Fargo.

The most recent hiring comes in step with Robinhood’s long-running plans to launch a platform in the UK. Robinhood’s U.Okay. enlargement has been rumored since at least early 2019 however has been delayed a number of occasions. In April 2022, Robinhood renewed its enlargement plans by acquiring the British crypto firm Ziglu.

Native experiences in mid-July suggested that Robinhood had began the method of hiring key executives for its U.Okay. enterprise. The agency reportedly expects to launch its service within the U.Okay. by the top of 2023.

Associated: Ripple applies for crypto license in the United Kingdom

Robinhood’s entrance to the U.Okay. comes amid United States regulators persevering with to scrutinize main cryptocurrency corporations. The U.S. Securities and Trade Fee is at the moment pursuing a number of instances associated to crypto corporations within the nation, including against companies like Coinbase, Ripple, Binance.US and others.

As a serious crypto platform in the USA, Robinhood has additionally confronted motion by the SEC. In February, Robinhood Markets received an investigative subpoena from the SEC over its digital asset enterprise’ crypto listings, custody and platform operations. In June, Robinhood introduced plans to cease support for cash like Cardano’s ADA (ADA), Polygon’s MATIC (MATIC) and Solana’s SOL (SOL) after the SEC labeled them unregistered securities.

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