NASDAQ-listed trading app Robinhood has secured in-principle approval (IPA) to launch its brokerage in Singapore, marking a key milestone in Robinhood’s international expansion, according to an announcement.
“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,” said Patrick Chan, Head of Asia for Robinhood. “We see enormous potential to democratise the financial markets for a new generation of investors in Singapore.”
The approval allows Robinhood to offer brokerage services in Singapore, including trading of securities, exchange-traded derivatives, custody, product financing, and collective investment funds.
Singapore serves as Robinhood’s Asia-Pacific headquarters. Its presence in the region is further strengthened by its subsidiary, Bitstamp Asia Pte. Ltd., which holds a Major Payment Institution (MPI) license from the MAS.
Menlo Park, California-headquartered Robinhood Markets transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors.
Last year, DealStreetAsia reported that Robinhood was laying the groundwork for an expansion into Southeast Asia, with Indonesia emerging as one of its beachheads.
According to people familiar with the matter, the company has been in preliminary talks with several Indonesian partners as it explores entering the country’s fast-growing capital markets.
