Robinhood to Launch Stock, Crypto Trading in Dubai Next Year, Deepening Middle East Push
Summary
- Robinhood said it had secured approval from the Dubai Financial Services Authority, or DFSA, allowing it to provide trading and custody services across 10 asset classes, including stocks, cryptocurrencies and ETFs.
- Robinhood said it plans to launch stock and crypto trading services in the Middle East next year, using its Dubai International Financial Centre, or DIFC, office as a regional hub.
- Robinhood said it is accelerating its global overseas market expansion, extending its reach to the U.K. in 2024 and to the EU and Singapore.
Forecast Trend Report by Period
Robinhood Markets Inc. plans to launch stock and cryptocurrency trading services in the Middle East next year.
Bloomberg reported on Oct. 22 that Robinhood recently received approval from the Dubai Financial Services Authority to offer trading and custody services across 10 asset classes for retail clients. The approval covers stocks, cryptocurrencies and exchange-traded funds, or ETFs.
Using the license, Robinhood plans to roll out stock and crypto trading services in the Middle East next year. Its office in the Dubai International Financial Centre will serve as a hub for the regional business.
Robinhood is stepping up its overseas expansion. The company entered the U.K. in 2024 and expanded its services in the European Union last year. In April, it also received preliminary approval in Singapore to provide brokerage services.
Chief Executive Officer Vlad Tenev said the Dubai base marks progress toward Robinhood’s goal of building a global platform that allows anyone, anywhere to own high-quality financial assets.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul