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Robinhood Suspends Launch Of U.K. Arm To Focus On Core U.S. Business

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The trading platform had 250,000 on its U.K. waitlist, but said on Tuesday it would suspend its launch “indefinitely”, amid mounting criticism in the U.S.

Trading platform Robinhood has suspended its launch in the U.K. indefinitely in efforts to focus on its core U.S. market, and around a month after the company committed to making changes following the suicide of a 20-year-old customer.Robinhood said in a statement: “We are refocusing our efforts on strengthening our core business in the US,” adding that their global expansion plans are “on hold for now.

: “A lot has changed in the world over the past few months, and we’ve made the difficult decision to postpone our UK launch indefinitely. As a company, we are refocusing our efforts on strengthening our core business in the US. We know many people in the UK were excited to invest through Robinhood, and we regret that we cannot deliver our product to UK customers in 2020.

 

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Robinhood: Stock trading app cancels UK expansion - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Link if broken
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