Robinhood Europe UAB, a part of Robinhood Markets, Inc. (NASDAQ: HOOD), a well-known US-licensed broker with a popular securities trading platform, has been granted an A-category brokerage license by the Bank of Lithuania.
This license is EU passportable, enabling Robinhood to provide securities brokerage services across the entire European Union and European Economic Area (EU/EEA). According to a press release from the Bank of Lithuania, Robinhood currently serves 6 million European clients.
The Lithuanian license, issued under the Markets in Financial Instruments Directive (MiFID), covers the following services:
- Reception and transmission of client orders
- Execution of client orders on behalf of clients
- Dealing on own account
ECOVIS ProventusLaw played a significant role in facilitating Robinhood’s decision to choose Lithuania as their licensing jurisdiction for the EU’s common financial market. The firm expressed pride in Robinhood’s choice, highlighting Lithuania’s growing reputation as a preferred European jurisdiction for finance institutions and Fintech companies seeking to operate within the European financial market.
Robinhood is the second major global player to secure a MiFID brokerage license in Lithuania, granting access to the entire European Union financial market. The first was Revolut, a global banking and payment processor, which received a B-category MiFID brokerage license in 2021 and also holds a banking license in Lithuania.
ECOVIS ProventusLaw Expertise in Financial Licensing
As part of the ECOVIS International consulting network, which operates in over 90 countries worldwide, ECOVIS ProventusLaw is a leading financial licensing advisor in Lithuania. We offer comprehensive services for financial institution licensing, including:
- Preparation of licensing documentation
- Representation at the Bank of Lithuania (Regulator) during the licensing procedure
- Company incorporation and bank accounts opening
- Corporate office registration and secretarial services
- Advice on IT, HR, and other business incorporation matters
Following the issuance of a license, ECOVIS provides ongoing support through accounting, regulatory reporting, audit, compliance, and legal services for the operational business.
More about MIFID investment advisory and securities brokerage license.
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