Robinhood Receives In-Principle Approval to Launch Brokerage Business in Singapore
According to an official announcement, Robinhood has received in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) to launch brokerage services in Singapore, covering securities trading, exchange-traded derivatives, custody, product financing, and collective investment schemes. Robinhood stated that Singapore will serve as its Asia-Pacific headquarters to support its international expansion. Its subsidiary, Bitstamp Asia Pte. Ltd., already holds a Major Payment Institution (MPI) license issued by the MAS. Note that in-principle approval is not equivalent to a formal license; Robinhood Singapore Pte. Ltd. must still meet relevant conditions before receiving final approval to commence operations.
