Robinhood Receives In-Principle Approval From Singapore Regulator | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
Robinhood has received in-principle approval from the Monetary Authority of Singapore to offer brokerage services in the city-state.
The move boosts the US trading platform’s international expansion strategy and its ambitions in the Asia-Pacific region.
The approval paves the way for Robinhood Singapore Pte. Ltd. to offer a comprehensive range of brokerage services, including the trading of securities, exchange-traded derivatives, custody, product financing, and collective investment funds.
An in-principle approval from the MAS reflects the regulator’s view that a licence may be issued upon fulfilment of specified conditions, though it does not constitute a formal licence at this stage.
Singapore serves as Robinhood’s Asia-Pacific headquarters and the company said the market’s regulatory standards, high rates of digital adoption, and growing retail investor base made it an ideal hub for its broader regional ambitions.
Robinhood’s presence in Singapore is further supported by its subsidiary Bitstamp Asia Pte. Ltd., which already holds a Major Payment Institution licence from the MAS.
“Singapore’s world-class regulatory environment, high rates of digital adoption, and growing population of retail investors make it the ideal hub for our mission,” commented Patrick Chan, Head of Asia for Robinhood. “We see enormous potential to democratize the financial markets for a new generation of investors in Singapore.”
