Robinhood's UK crypto registration clears a regulatory hurdle as the company expands internationally. HOOD stock has pulled back from July highs, but Bernstein sees 85% upside with a $160 target.
The UK's Financial Conduct Authority added Robinhood Markets to its crypto-asset register on July 31, a move that clears the way for the company's local arm to offer digital asset services under the country's existing anti-money laundering rules.
Robinhood's UK entity joins more than 50 approved firms on the register, including crypto-native platforms and traditional finance groups that have met the FCA's current standards. The approval arrives ahead of a broader regulatory shift. The UK plans to open applications for its full crypto authorization regime at the end of September, with a six-month window closing in February 2026. The new rules take effect in October 2027.
Being already registered under the current framework may ease the transition, according to the FCA's published timeline. Companies that have completed the anti-money laundering compliance work now have a head start on the more comprehensive authorization process.
Robinhood has been expanding internationally on multiple fronts. The brokerage entered Canada through the acquisition of WonderFi and received a capital markets services license in Singapore. In Europe, it launched perpetual futures tied to commodities, ETFs, and the euro-dollar pair, offering leverage of up to 10 times and round-the-clock trading for eligible users.
The company's revenue base is shifting. Prediction market revenue reached $156 million in the second quarter, topping the $100 million generated by crypto trading in the same period. Robinhood Chain, the company's layer-2 network, has processed more than $12 billion in decentralized exchange volume and over 150 million transactions since launch.
Bernstein maintained an outperform rating on HOOD with a $160 price target, a level that implies roughly 85% upside from recent trading around $86. The firm cited Robinhood's move beyond trading into tokenization, the Bitstamp acquisition, and prediction markets as growth drivers.
HOOD stock has pulled back from a July high of $118.60, leaving it below the $95 to $97 resistance zone. A recovery above that range could reopen the path toward the July peak. The immediate support sits between $80 and $82, where buyers stepped in previously. A break below $80 would expose the $70 area, with stronger demand near $64 to $67, levels that held in earlier pullbacks.
AlphaScala's proprietary scoring gives HOOD a 30 out of 100, with a Weak label. The low score reflects the stock's recent technical weakness and the broader financial sector's mixed momentum, even as the UK registration removes one regulatory uncertainty.
Robinhood's tokenized stock products are now available in more than 120 countries through its wallet. The company's tokenized QQQ product drove 288% of July volume on the network, a sign that the tokenization strategy is gaining traction. The application window for the UK's full authorization regime opens in late September. Robinhood, already on the register, enters that process with one compliance hurdle cleared.
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