Robinhood, founded by Vladimir Tenev and Baiju Bhatt, said that it had postponed its British launch indefinitelyAn American trading platform that has attracted hype and scrutiny has withdrawn plans to launch its business in Britain. Robinhood said yesterday that it had postponed its push into the UK “indefinitely” in favour of “refocusing our efforts on strengthening our core business in the US”. Thousands of British traders had been eager to use the investment app. Since November about 250,000 people had signed up to Robinhood’s British waiting list for the app’s proposed launch this year. Shares in Hargreaves Lansdown and AJ Bell, two London-listed investment platforms that would have faced competition from Robinhood, rose by 10.1 per cent and 2.8 per cent yesterday.

Source: The Times July 21, 2020 23:03 UTC