In brief
- Your Robinhood crypto sits with a different company in each region: Robinhood Crypto, LLC holds US coins in omnibus wallets, Robinhood Europe UAB is both the contracting party and the custodian under the EU client agreement, Robinhood U.K. Ltd introduces UK customers to Bitstamp UK Limited for crypto (UK contracting terms not yet verified), and the self-custody wallet comes from a Cayman Islands company.
- On 1 October 2026 the FCA Register confirmed that Robinhood U.K. Ltd may only arrange crypto transactions and cannot hold client money, while Bitstamp UK Limited has been registered for cryptoasset activities since June 2023; ESMA’s register lists Robinhood Europe UAB for custody and transfers in 29 other EEA states.
- US state licences, including the New York BitLicense, are company-reported and could not be verified, and who custodies UK customers’ coins is not stated in any document we retrieved.
Reader question: if you buy crypto on Robinhood, which Robinhood company holds it in your region, can you move it to your own wallet, under whose licence, and what does getting in and out cost?
Robinhood sells crypto in the US, the EU and the UK, runs a self-custody wallet and an on-ramp for other apps called Robinhood Connect, and has owned the Bitstamp exchange since 2 June 2025. This profile maps entity, region, product and regulator from Robinhood’s agreements and fee schedule, its Q2 2026 10-Q, and the ESMA and FCA registers, all read on 1 October 2026. We opened no account and did not test withdrawals.
What is verified today
Register-verified (1 October 2026): ESMA’s interim MiCA register lists Robinhood Europe UAB (Bank of Lithuania, authorised 29 May 2025) for custody and administration of crypto, execution of orders, reception and transmission of orders and transfer services, passported to 29 EEA states (background: how ESMA plans to supervise MiCA firms), and Bitstamp Europe S.A. (CSSF, authorised 15 May 2025) for operating a trading platform. The FCA Register shows Robinhood U.K. Ltd (FRN 823590, company 09908051) as Authorised since 7 August 2019 and registered under the Money Laundering Regulations for crypto since 31 July 2026. A requirement in force from the same day limits its crypto services to arranging transactions, and the record says it cannot hold or control client money. Bitstamp UK Limited (FRN 978690, company 14174243) is registered for cryptoasset activities since 13 June 2023. The same search flags a clone, bitstampfx.com, as unauthorised.
Company-reported, could not be verified: Robinhood Crypto, LLC lists NMLS ID 1702840, New York Virtual Currency Licence 0000012 and money transmitter licence MT104190 (licence list dated 28 October 2025). NYDFS and NMLS Consumer Access returned HTTP 403 on 1 October 2026.
Live, company-reported: US custody under the Crypto Customer Agreement revised 29 September 2026; EU custody by Robinhood Europe UAB under its client agreement last updated 1 July 2026; on-chain transfers for enrolled US users; Robinhood Wallet in more than 150 countries; a US fee table for Robinhood Connect, whose regions, assets and production use we could not confirm. Robinhood Chain, an Arbitrum-based Layer 2, has no stated launch status, so we treat it as unverified.
Entity and authority
| Entity | Region and product | Regulator record | What it permits or does | Evidence |
|---|---|---|---|---|
| Robinhood Crypto, LLC | US crypto accounts, Connect | NMLS 1702840; NY BitLicense 0000012 | Custodian of US customers’ crypto | Company-reported; could not be verified (NYDFS, NMLS 403) |
| Robinhood Europe UAB | EU app, 29 EEA states plus Lithuania | MiCA CASP, Bank of Lithuania, 29 May 2025 | Custody, order execution, order transmission, transfers; contracting party and custodian for EU app users | Register-verified (ESMA); roles company-reported (client agreement) |
| Bitstamp Europe S.A. | Bitstamp exchange, EU | MiCA CASP, CSSF, 15 May 2025 | Trading platform | Register-verified (ESMA) |
| Robinhood U.K. Ltd | UK app | FCA FRN 823590, Authorised 2019; MLR crypto 31 Jul 2026 | Arranging crypto deals only; no client money | Register-verified (FCA) |
| Bitstamp UK Limited | UK crypto product | FCA FRN 978690, MLR crypto since 13 Jun 2023 | Provides the UK crypto service; Robinhood UK introduces customers to it | Registration register-verified; role company-reported |
| Robinhood Non-Custodial, Ltd. | Robinhood Wallet, global | None found; not FCA-regulated for UK users | Self-custody wallet software | Company-reported; entity name differs by page |
| CCML (WonderFi subsidiary) | Canada | Not checked | Crypto trading in Canada | Company-reported (10-Q); not yet verified |
All are subsidiaries of Robinhood Markets, Inc.; the entity disclosure says Robinhood Crypto, LLC and Robinhood Non-Custodial, Ltd. are not banks. Bitstamp Europe’s trading-platform authorisation is not evidence that it holds EU app users’ coins.
Product scope, availability and eligibility
In the US, residents of states that restrict certain coins can hold, sell or withdraw them but not buy or deposit; New York residents can only hold or sell restricted coins. Which states or coins are affected is not listed in the agreement we read. The 10-Q says leveraged crypto perpetuals have been offered since June 2025 to customers of Robinhood Europe and Bitstamp Financial Services Ltd. The EU site claims “90+” coins on one page and “more than 65” on another; the UK page says 50+.
Who holds your coins, by route
| Route | Service provider named by Robinhood | Who holds the coins | On-chain exit | Protection |
|---|---|---|---|---|
| US app | Robinhood Crypto, LLC | RHC, in omnibus wallets for customers; you keep title; RHC will not lend or pledge your coins | Yes, after wallet-transfer enrolment, which may need identity re-verification and an authenticator app; a full ACATS transfer does not move crypto | Not FDIC-insured or SIPC-protected |
| EU app | Robinhood Europe UAB (its client agreement, last updated 1 July 2026) | Robinhood Europe UAB as custodian, in omnibus wallets kept apart from its corporate wallets; no right to a specific address or keys; no lending or pledging without consent | Yes, by a Send Transaction, subject to the agreement’s limits | No government compensation scheme |
| UK app | Bitstamp UK Limited: Robinhood U.K. Ltd onboards customers, holds the lead relationship and introduces them to Bitstamp UK for crypto trading (Bitstamp UK terms not fetched, so contracting terms not yet verified) | “Held in custody, never lent or leveraged”; the holding entity is not named (not yet verified) | Not yet verified | Not FSCS-protected |
| Robinhood Wallet | Robinhood Non-Custodial, Ltd. | You do (self-custody) | Not applicable (self-custody) | Not yet verified: no statement on the wallet page |
| Robinhood Connect | Robinhood Crypto, LLC and affiliates | Partner apps pass Robinhood a wallet address specific to each end user | Delivery to that address; regions, assets, networks and production use not yet verified | Not yet verified: no statement in the licence or fee schedule |
Across the group, the 10-Q says settled crypto sits in hot and cold wallets with “the overwhelming majority” in cold storage, and that Robinhood uses no third-party custodian except Bitstamp. Customer crypto held in custody was worth $26.3 billion at fair value on 30 June 2026, down from $38.2 billion at 31 December 2025, and is kept off Robinhood’s balance sheet. The split by entity or region is not disclosed in the filing.
Cost to get in and out
US (RHC fee schedule):
- Default routing: no commission, but orders go to market makers that pay Robinhood volume rebates; the spread you pay is not quantified.
- Exchange Routing (to EDX Markets and Bitstamp USA): 0.95% taker / 0.50% maker below $10,000 of 30-day volume, falling to 0.03% / 0.00% above $25 million.
- Withdrawals: $0 from Robinhood plus the blockchain network fee.
- Staking: Robinhood keeps 25% of rewards.
- Connect: 0.0-1.5% by debit card or bank transfer, $0 with Robinhood buying power; third-party fees may be passed through.
EU (Robinhood Europe fee schedule): 0.95% of the euro value of each crypto trade, minimum €0.01, with no fee on EURC trades; €0 for crypto transfers, plus the network fee. The UK fee schedule we read covers securities only, so we publish no UK crypto cost figures. Crypto transaction revenue fell to $100 million in Q2 2026 from $160 million a year earlier, which the 10-Q puts down mainly to lower market-maker rebate rates.
Dependencies
US execution depends on market makers by default and on EDX Markets and Bitstamp USA for Exchange Routing. The 10-Q notes Robinhood may carry an intraday net receivable of up to $100 million from a single crypto liquidity provider. Bitstamp is the one disclosed custody exception; its own custodial set-up is not described in the sections we captured.
Alternatives
| Point | Robinhood | Coinbase | MoonPay |
|---|---|---|---|
| US custody | RHC, omnibus wallets, customer keeps title (EU: Robinhood Europe UAB, omnibus) | Custodial, held by Coinbase for the user | On-ramp; not compared |
| US protection | No FDIC/SIPC | No FDIC/SIPC on crypto balances | Not compared |
| EU licence (ESMA) | Robinhood Europe UAB, custody + transfer | Coinbase Luxembourg S.A., CSSF | MoonPay Europe B.V., AFM, exchange + transfer |
| UK record | Bitstamp UK, MLR crypto; Robinhood UK arranging only | CB Payments Ltd, MLR crypto | MoonPay (UK) Ltd, FRN given as 944716 and 944746 on two pages |
| Fiat on-ramp fee (not like-for-like) | Connect 0.0-1.5% by card or bank (US) | Not compared | MoonPay fee up to 4.5%, minimum up to $3.99 (US direct) |
| Withdrawal fee (not like-for-like) | $0 + network fee, all coins | USDT only: 0.01%, max 20 USDT + network fee | Not compared |
The published figures cover different assets, routes and payment methods, and Robinhood’s default-route spread is not quantified, so these cells show what each firm discloses rather than which is cheaper. The clearer difference is structural: in the US, Robinhood’s agreement states that customers keep title and that RHC will not lend their coins, and in the UK Robinhood’s own FCA-authorised firm only arranges while a separately registered Bitstamp company provides the service.
Limitations and unknowns
- US state licences and the NY BitLicense: company-reported; NYDFS and NMLS returned 403 on 1 October 2026 (not yet verified).
- UK contracting terms, UK custodian, UK on-chain withdrawals and UK crypto fees (not yet verified; checked the UK crypto and legal pages, the Robinhood UK fee schedule and the FCA records; Bitstamp’s UK terms page blocked automated access).
- Robinhood U.K. Ltd’s full investment permissions: the FCA Activities tab showed only headings (not yet verified).
- Default-routing spread and rebate size (not publicly disclosed in the fee schedule).
- Connect regions and networks; Robinhood Chain launch status; Canada registrations (not yet verified).
- Three different registered addresses for Robinhood Europe UAB, and two names for the wallet company (conflicting evidence).
Key facts (as of 1 October 2026)
- Customer crypto in custody: $26.3 billion at 30 June 2026 (fair value).
- Crypto transaction revenue: $100 million, Q2 2026.
Sources
- FCA Financial Services Register: Robinhood U.K. Ltd (FRN 823590) and Bitstamp UK Limited (FRN 978690), read 1 October 2026.
- ESMA interim MiCA register of crypto-asset service providers (CSV), read 1 October 2026.
- Robinhood legal documents: Crypto Customer Agreement, RHC fee schedule, multiple-entity disclosure, RHC licences, Robinhood Europe UAB client agreement, EU fee schedule, Robinhood UK fee schedule, UK crypto page.
- Robinhood Markets, Inc., Form 10-Q for the quarter ended 30 June 2026.
Last updated: 1 October 2026. Next recheck triggered by: a new Crypto Customer Agreement or fee schedule, the Q3 2026 10-Q, any ESMA or FCA record change for these entities, or Robinhood Chain mainnet.
