Cryptocurrency-friendly buying and selling platform Robinhood is transferring ahead with plans to launch providers in the UK with a brand new main native appointment.
Robinhood has appointed former Barclays govt Jordan Sinclair as the brand new CEO of its United Kingdom entity, in accordance with information from the Monetary Conduct Authority.
In response to FCA, Sinclair was authorized by the authority to carry out the CEO position at Robinhood’s U.Okay. arm on July 18.
Previous to becoming a member of Robinhood, Sinclair was a managing director on the European fintech agency Freetrade for 13 months, in accordance with his LinkedIn profile. He additionally labored as a director of group technique on the monetary agency Barclays and a company banker at Wells Fargo.
The newest hiring comes in keeping with Robinhood’s long-running plans to launch a platform in the UK. Robinhood’s U.Okay. enlargement has been rumored since not less than early 2019 however has been delayed a number of occasions. In April 2022, Robinhood renewed its enlargement plans by buying the British crypto agency Ziglu.
Native reviews in mid-July urged that Robinhood had began the method of hiring key executives for its U.Okay. enterprise. The agency reportedly expects to launch its service within the U.Okay. by the tip of 2023.
Associated: Ripple applies for crypto license in the UK
Robinhood’s entrance to the U.Okay. comes amid United States regulators persevering with to scrutinize main cryptocurrency corporations. The U.S. Securities and Trade Fee is at the moment pursuing a number of instances associated to crypto corporations within the nation, together with in opposition to corporations like Coinbase, Ripple, Binance.US and others.
As a serious crypto platform in the USA, Robinhood has additionally confronted motion by the SEC. In February, Robinhood Markets obtained an investigative subpoena from the SEC over its digital asset enterprise’ crypto listings, custody and platform operations. In June, Robinhood introduced plans to stop assist for cash like Cardano’s ADA (ADA), Polygon’s MATIC (MATIC) and Solana’s SOL (SOL) after the SEC labeled them unregistered securities.
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