The U.K.-based fintech has reportedly secured a licence that will allow it to launch a zero-commission stock-trading app in the U.S., helping it compete with Robinhood and Square in retail trading. (CNBC)
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The U.K.-based fintech has reportedly secured a licence that will allow it to launch a zero-commission stock-trading app in the U.S., helping it compete with Robinhood and Square in retail trading. (CNBC)
Talking point: Revolut is looking to expand after withdrawing its operations from Canada and signalling that it’s still interested in returning here. Any Canadian stock-trading app would have to find a different business model than U.S. companies like Robinhood, however, which rely on payment for order flow, a practice that is banned in Canada. That hasn’t stopped domestic startups from chasing the no-fee trading market, with Wealthsimple having launched a trading app and Mogo developing one that it’s seeking to launch this year. Even big banks have joined in the fray: National Bank announced last month that it was eliminating stock-trading fees on its online brokerage.
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