Just-In: Robinhood Launches Zero-Fee Crypto Trading via Bitstamp in UK

Robinhood Markets on Monday said it will start offering crypto trading in the UK, giving users access to over 50 cryptocurrencies including Bitcoin, Ethereum, XRP, and Hyperliquid. The all-in-one app will offer crypto trading through Bitstamp UK this week. HOOD stock jumps in premarket hours.

Robinhood Announces Crypto Trading Launch via Bitstamp in the UK

Robinhood has begun rolling out crypto trading to eligible UK customers via Bitstamp, adding more than 50 crypto assets to its app. This also includes stocks, ISAs, options, and futures as Robinhood continues to expand its broader crypto ecosystem.

As part of the launch, Robinhood will charge zero trading fees, no account maintenance fees, and no custody fees. However, users must pay a 0.1% foreign exchange fee, which could increase to 0.3% for certain weekend conversions.

However, crypto holdings through Bitstamp UK are not covered by the Financial Services Compensation Scheme or the Financial Ombudsman Service.

The firm also introduced “Robinhood Cortex Digests for Crypto,” a generative AI-powered tool that analyses breaking news, market data, technical indicators and Robinhood’s insights. The AI service helps explain the key factors driving price movements of individual crypto assets on a given day.

“Our new product provides a transparent, low-cost alternative to many incumbent U.K. platforms, which often rely on opaque pricing structures and apply wide spreads that can erode customers’ returns,” Robinhood said.

The launch comes as Robinhood secured crypto registration in UK from the Financial Conduct Authority (FCA). It enabled Robinhood’s UK business to operate legally and meet UK anti-money laundering (AML) requirements.

HOOD Stock Jumps

HOOD stock price climbed 0.77% to above $94 as Robinhood continues to expand services. The stock closed 2.84% higher at $93.29 on Friday after moving in the $92.52-$95.75 range.

The stock has surged nearly 8% after reporting its Q2 earnings. While earnings beat Wall Street estimates, crypto transaction revenue dropped to $100 million. However, Robinhood’s launch of crypto trading in the UK could boost its crypto revenue.

Bernstein maintained a $160 price target on HOOD stock, implying about 85% further upside. The firm pointed to Robinhood Chain, tokenized stocks, Bitstamp, and Robinhood Earn as new growth areas.

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