US-based online brokerage firm robinhood market According to the company, the company plans to establish a regional headquarters in Singapore in 2025 as part of its Asian expansion plans. bloomberg.
The expansion follows the company’s entry into the UK earlier this year and reflects Robinhood’s strategy to expand beyond its home base of the US, where trading activity has declined after a peak due to the pandemic. are.
With expansion into Asia, competition in the online securities industry is expected to intensify.
Chinese companies such as Tiger Brokers and Futu Holdings are expanding their presence in the region in the wake of regulatory changes in the domestic market.
Singapore is recognized as a major asset management center with a stable legal and political environment, making it a strategic location for these companies.
Citigroup analyst Christopher Allen reported that Robinhood has given the green light to expand its product range in the UK, obtains the necessary brokerage licenses and plans to establish an Asia-Pacific office in Singapore. .
Beyond expansion in Asia, Tenev also outlined plans to expand Robinhood’s offering with deals related to specific events, which could include sporting competitions.
This builds on the company’s success with contracts related to the recent US presidential election.
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