Robinhood Markets Inc. is set to expand into Asia in 2025, establishing its headquarters in Singapore, as announced by CEO Vlad Tenev. This move follows the company's recent entry into the UK and comes amid increasing competition from firms like Tiger Brokers and FUTU Holdings Ltd. as Robinhood seeks growth beyond its domestic market.
Robinhood CEO Vlad Tenev announced the company's interest in expanding into sports betting, highlighting its significance to customers and culture. He suggested that this expansion could involve event contracts, similar to those launched before the presidential election. Following his remarks, shares of major sports betting companies experienced modest fluctuations, while Robinhood's stock rose by 3.5%.
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