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View all search resultsRobinhood to enter RI with broker, crypto trader acquisitions
Founded in California in 2013, Robinhood shot to fame during the social-media-fueled retail-trading frenzy of 2021 and gained broader market legitimacy this year after joining the United States benchmark S&P 500 index.
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Representations of cryptocurrency Bitcoin are seen on on Nov. 25, 2024. (Reuters/Dado Ruvic)
T
he United States-based trading platform Robinhood Markets announced on Sunday that it plans to acquire two Indonesian firms as part of its push into Southeast Asia’s largest economy.
In a blog post, the company said it had reached agreements to buy brokerage PT Buana Capital Sekuritas and licensed digital asset trader PT Pedagang Aset Kripto (Coinvest), but it did not disclose the value of the deals.
“Indonesia represents a fast-growing market for trading, making it an exciting place to further Robinhood’s mission to democratize finance for all,” Robinhood Asia head Patrick Chan said in a statement.
“We look forward to bringing Indonesians the same innovative services that have earned the trust of Robinhood customers globally.”
Pieter Tanuri, the majority owner of both local firms, will remain involved as a strategic advisor.
Securing a brokerage generally smooths a company’s effort to meet licensing and regulatory requirements in a country, while acquiring a licensed crypto trader allows it to provide a digital asset market.
Both transactions remain subject to regulatory approval, including from the Financial Services Authority (OJK), and are expected to close in the first half of 2026.
