Exclusive FNG… FNG has learned that leading us Neobroker RobinHood Markets Inc (Nasdaq: Hood) begins at the next stage of the international expansion plan, creating infrastructure and hiring to open a business in Dubai in the coming months.
We expect that RobinHood will make an official announcement on its plans for Dubai and the Mena area in the coming weeks.
License RobinHood DFSA
RobinHood has apparently applied for Class 4 leave from the Authority of Dubai Dubai (DFSA), which, when received, will allow the broker to start taking over clients in the UAE and in the Greater Mena area, from offices in the Dubai special financial zone (DIFC).
Mena lease
To support Dubai’s business, Robinhood has hired an experienced FX and CFDs executive, Mario Camara in Dubai, with the senior executive director of the new business RobinHood Mena. Mario Camara worked for six years on the top Mena team based on an online Equiti Group broker, as a senior vice -president of licensing and government relations, before leaving Equiti at the end of last year. He had also worked in the past for two years (2016-2018) for Saxo Bank based in Copenhagen, as senior executive director, DIFC-MD Mena area.
International RobinHood Extension
Robinhood has been actively making moves to expand out of the US in recent months, but most of its public efforts have focused on the United Kingdom and the EU. Robinhood recently made its first invasion of European football (one of his favorite online media). The move follows the recent introduction from Robinhood of a series of new products targeting EU customers, such as US stocks and ETF brands and constant contracts. In May, Robinhood released Legend Desktop’s trading platform in the United Kingdom.
And at the end of last year, RobinHood describes plans for expansion in Asia, with regional headquarters based in Singapore.
However, it seems that its plans for Dubai and the Mena area, which the company was quite silent to date, can accelerate and form faster than in other areas.