Nasdaq-based fintech firm Robinhood has received in-principle approval ( IPA ) from the Monetary Authority of Singapore ( MAS ) to offer brokerage services in the city-state, marking a milestone in its expansion in Asia’s retail investment market.

The IPA paves the way for Robinhood to offer a comprehensive suite of brokerage services in Singapore, including trading of securities, exchange-traded derivatives, custody, product financing, and collective investment funds. 

Headquartered in Menlo Park, California, Robinhood is known for offering commission-free stock trading and retail investor access to financial markets.

Singapore serves as Robinhood’s Asia-Pacific headquarters, supporting its broader goal of building a global financial ecosystem. Its presence in the region is further strengthened by its subsidiary, Bitstamp Asia, which holds a major payment institution licence from MAS.

By establishing a local footprint, Robinhood aims to provide investors in Singapore with the tools and access they need to participate in the global economy, furthering its mission to democratize finance for all.

"Singapore’s world-class regulatory environment, high rates of digital adoption, and growing population of retail investors make it the ideal hub for our mission,” says Patrick Chan, head of Asia for Robinhood. “We see enormous potential to democratize the financial markets for a new generation of investors in Singapore.”

An IPA reflects MAS' view that a licence may be issued to the applicant, Robinhood Singapore ( RHSG ), upon the fulfilment of certain conditions. It does not constitute a licence for RHSG to start operations, and the regulator reserves the right to rescind the IPA in case of adverse developments.