Robinhood, the app which offers users free trading in US stocks, plans to expand into other exchanges around the globe. Despite year-old negotiations in Australia, which are still pending authorisation, the company is reportedly preparing to launch in China, a country that has banned the use of the majority of American apps. The move comes as China cracks down on cryptocurrency trading, with regulators banning initial coin offerings (ICOs) and ICOs altogether.
Robinhood, the app which offers users free trading in US stocks, plans to expand into other exchanges around the globe. Despite year-old negotiations in Australia, which are still pending authorisation, the company is reportedly preparing to launch in China, a country that has banned the use of the majority of American apps. Aside from news that Chinese-American users have been presented with codes to invite friends and family back home in China, some industry watchers commenting that the company’s ambitious plan faces a huge challenge.