- Robinhood crypto trading gives UK users over 50 assets through Bitstamp, with no trading, custody, or maintenance fees.
- UK users pay a 0.1% foreign exchange fee, while some weekend conversions carry a higher 0.3% charge.
- Cortex adds AI market analysis as Robinhood Chain expands the companyās digital asset infrastructure.
Robinhood crypto trading is rolling out to eligible UK customers, adding more than 50 digital assets to its investing app, according to a Bloomberg report.Ā Bitstamp UK will execute transactions after Robinhood acquired the exchange for $200 million last year. The launch places Bitcoin, Ethereum, XRP, and HYPE alongside equities, ISAs, options, and futures within one platform.
Robinhood Crypto Trading Uses Bitstamp for UK Orders
Robinhood crypto trading will charge no trading, custody, or account maintenance fees. Users will pay a 0.1% foreign exchange fee, rising to 0.3% for certain weekend conversions.
Bitstamp UK Ltd holds Financial Conduct Authority registration as a cryptoasset service provider. However, holdings lack protection from the Financial Services Compensation Scheme and Financial Ombudsman Service.
Jordan Sinclair, president of Robinhood UK and general manager of Bitstamp UK, framed the rollout as a broader platform expansion. āWith todayās launch, weāre taking another major step toward becoming the all-in-one investment platform for the UK,ā he said.
The UK crypto trading service also introduces Cortex Digests for Crypto. The generative AI feature reviews news, market data, technical indicators, and proprietary information. Robinhood crypto trading customers can use those explanations to examine factors driving individual asset prices.
AI Analysis and Robinhood Chain Expand Crypto Strategy
Meanwhile, Robinhood Chain extends the companyās digital asset strategy through a permissionless Arbitrum-based Layer 2. Company figures indicate that decentralised exchange volume exceeds $18 billion and total value locked surpasses $840 million since July 1.
Robinhood claims that the blockchain adheres to institutional standards. However, the chain falls outside UK financial regulation and does not carry domestic consumer protections.
Developers can build applications on the network globally, including from the UK. Chief Executive Vlad Tenev said it became the fastest EVM-compatible chain to process 100 million transactions.
Robinhood crypto trading reaches Britain after a weaker quarterly cryptocurrency revenue. Crypto transaction revenue fell 38% annually to $100 million during the second quarter. Bitstamp recorded $22 billion in Q2 notional volume.
Prediction markets generated $156 million, surpassing cryptocurrency revenue for the first time. Total net revenue increased 32% to $1.31 billion, while net income rose 48% to $573 million.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
