Investment platform Robinhood has announced it has indefinitely postponed its planned UK launch in the wake of a fraught year for the company. In an email sent to customers, the company said it was closing down its wait list and shuttering its UK website in the near future. Given the uncertainty created by COVID-19, as well as issues with its platform, it made sense for Robinhood to focus on the US. As such, international expansion has been put on ice until the global situation improves, whenever that’ll be.
A push to the UK has been in the works for several months, and said as recently as June 12th that it was still working “hard behind the scenes to give you access as quickly as possible.” The company added that it will be wiping the details of UK users who signed up to the waitlist, as well as their email addresses. Given the wording in the statement, don’t expect Robinhood to make another crack at the UK until next year at the very earliest.