Robinhood Wins UK Crypto Approval as Expansion Push Accelerates

Robinhood Markets has secured approval from the U.K. Financial Conduct Authority to offer crypto services in Britain, a milestone in the brokerage's international expansion. The clearance opens one of the largest crypto retail markets outside the U.S. to the platform.

The approval lands alongside a string of growth initiatives. Robinhood is completing its acquisition of WonderFi, a Canadian crypto firm, for C$250 million, and is preparing to launch its second venture fund, targeting $200 million to back early-stage startups.

The moves follow a strong second quarter in which revenue jumped 32% year over year to $1.3 billion, topping analyst estimates. Shares traded in the $92 range Friday as investors weighed the company's widening product footprint.