Mentioned:
Robinhood wants to be a global brokerage platform. Which is exactly why they are making two new acquisitions in Indonesia.
What’s happening:
- Robinhood (NASDAQ: HOOD) has entered into a new deal to acquire Indonesian trading and brokerage company PT Buana Capital
Why it matters:
- The new acquisition would bring Robinhood to Indonesia for the first time ever
Going deeper:
- Robinhood will also acquire digital asset brokerage PT Pedagang Aset Kripto which holds all the necessary regulatory approvals to offer crypto trading and investing in Indonesia
- Robinhood has publicly stated they plan to eventually enable Indonesian investors to be able to access stocks listed in the United States following the completion of the acquisition
The fine print:
- Both of Robinhood’s new acquisitions will ultimately require approval from the Indonesian Financial Services Authority
