Stock trading app Robinhood has canceled its planned launch in the UK and put a hold on global expansion plans; in a statement released today the company said that a lot has changed in the world over the past few months and as a result the company had “made the difficult decision to postpone our UK launch indefinitely”; the waitlist for the app in the UK was launched last November and garnered 250,000 signups but the company is now shutting down the UK website and will be deleting the customer email addresses; from Robinhood’s statement, “As a company, we are refocusing our efforts on strengthening our core business in the US. We know many people in the UK were excited to invest through Robinhood, and we regret that we cannot deliver our product to UK customers in 2020.” Sifted.
Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.