Tannor

Tannor from Future Investing asked about Robinhood's broader capital allocation strategy for international expansion, specifically whether it plans to pursue licenses organically or through acquisitions.

Answer

Shiv Verma, CFO, stated that Robinhood will use both organic (U.K., E.U.) and non-organic (e.g., WonderFi acquisition in Canada) approaches, prioritizing speed to market and ROI. Vlad Tenev, CEO, emphasized avoiding massive infrastructure integration projects from duplicative stacks, focusing instead on acquiring complementary technologies and teams, like Bitstamp, to serve customers in every jurisdiction.