Robinhood Markets secured a UK regulatory approval from the Financial Conduct Authority on July 31, 2026, but the license comes with tight strings attached. The FCA added Robinhood UK Ltd to its crypto register, allowing the firm to arrange crypto trades — meaning it can pass orders to other companies. But it cannot hold customers' coins, operate an exchange, or handle client money. The move is a step toward offering crypto services in Britain, but the company still has a long way to go before a full launch.
What the license actually allows
The approval is narrow. Robinhood UK can arrange trades but not custody assets, run a trading platform, or touch customer cash. It's also banned from operating crypto cash machines unless the FCA gives written permission. Competitors like Kraken UK, Coinbase, and Revolut are already on the register, and some hold e-money licenses that let them handle customer cash — something Robinhood UK doesn't have. The FCA's register doesn't provide a safety net either: crypto services are unlikely to be covered by UK compensation schemes or the financial ombudsman.
A long road to UK crypto
This isn't Robinhood's first attempt at the British market. The company tried to buy crypto app Ziglu in April 2022 but walked away ten months later, writing off $12 million. It now owns Bitstamp UK Ltd, acquired when Robinhood bought the parent company for $224 million in June 2025. Bitstamp UK is already on the FCA register and could be used to fulfill UK orders. Still, the new approval is being treated as 'housekeeping' rather than a full launch. Robinhood told investors in July it plans to start UK crypto soon, but its small print still says UK customers get no crypto trading or custody. The timing isn't great: Robinhood's crypto revenue fell 38% to $100 million in its second quarter, even as total revenue hit a record $1.31 billion.
Temporary approval before tougher rules
The FCA's green light is temporary. Tougher UK crypto rules take effect on October 25, 2027, requiring all firms to reapply within a five-month window or stop most crypto work. The regulator has been stingy with approvals: between January 2020 and October 2022, 291 firms applied for crypto registration, but only 38 made the register. Another 155 gave up before a decision. Robinhood's license is a foothold, not a finish line. The company offers trading, custody, and staking across Europe, but the UK arranging license supports none of those activities. For now, British customers are still waiting.
