US broker Robinhood will acquire two Indonesian businesses to gain entry into one of Asia’s fastest-growing markets, with more than 19mn retail investors, as part of the group’s aggressive global expansion.
Robinhood said on Monday it had agreed to buy Indonesian brokerage Buana Capital Sekuritas and crypto trader Pedagang Aset Kripto, without providing financial details of the deals.
The California-based group, which rose to prominence during the 2021 meme stock mania, last year announced plans to launch in Asia with a regional headquarters in Singapore.
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