Crypto-friendly Robinhood inches to UK with local CEO appointment

Cryptocurrency-friendly trading level Robinhood is moving guardant with plans to motorboat services successful the United Kingdom with a caller large section appointment.

Robinhood has appointed erstwhile Barclays enforcement Jordan Sinclair arsenic the caller CEO to tally its United Kingdom entity, according to information from the Financial Conduct Authority.

According to FCA, Sinclair was approved by the authorization to execute the CEO relation astatine Robinhood’s U.K. limb connected July 18.

Prior to joining Robinhood, Sinclair was a managing manager astatine the European fintech Freetrade for 13 months, according to his LinkedIn profile. The caller Robinhood’s enforcement besides worked arsenic manager of radical strategy astatine the fiscal steadfast Barclays and firm banker astatine Wells Fargo.

The latest hiring comes successful enactment with Robinhood’s long-running plans to motorboat a level successful the United Kingdom. Robinhood’s U.K. enlargement has been rumored since astatine slightest aboriginal 2019 and has been delayed aggregate times. In April 2022, Robinhood renewed the enlargement plans by acquiring the British crypto steadfast Ziglu.

Local reports successful mid-July suggested that Robinhood started the process of hiring cardinal executives for its U.K. business. The steadfast reportedly expects to motorboat its work successful the U.K. by the extremity of 2023.

Related: Ripple applies for crypto licence successful the United Kingdom

Robinhood’s entranceway to the U.K. comes amid the United States’ regulators continuing to scrutinize large cryptocurrency firms. The U.S. Securities and Exchange Commission is presently moving aggregate cases related to crypto firms successful the country, including companies similar Coinbase, Ripple, Binance.US and others.

As a large crypto level successful the United States, Robinhood besides faced immoderate enactment by the SEC this year. In February, Robinhood Markets received an investigative subpoena from the SEC implicit its integer plus business’ crypto listings, custody and level operations. In June, Robinhood announced plans to cease enactment for coins similar Cardano, Polygon and Solana aft the SEC labeled them arsenic unregistered securities.

Magazine: Tokenizing euphony royalties arsenic NFTs could assistance the adjacent Taylor Swift