Robinhood Markets (NASDAQ:HOOD) received in-principle approval from the Monetary Authority of Singapore to offer brokerage services.

The Singapore Milestone

The in-principle approval allows Robinhood to offer trading of securities, exchange-traded derivatives, custody, product financing, and collective investment funds through its local entity, Robinhood Singapore Pte. Ltd.

“Singapore’s world-class regulatory environment, high rates of digital adoption, and growing population of retail investors make it the ideal hub for our mission,” said Patrick Chan, Head of Asia for Robinhood.

Singapore will serve as Robinhood’s Asia-Pacific headquarters. The firm’s subsidiary Bitstamp Asia Pte. Ltd. already holds a Major Payment Institution license from MAS.

Not A Full License Yet

The in-principle approval is not a license at this stage. MAS said a license will only be issued if conditions are met and there are no material adverse developments. 

The regulator retains the right to withdraw approval.

Singapore uses a phased licensing framework for brokers, moving from in-principle approval to full authorization once they meet the required conditions.

Capital.com has been seeking a risk manager in Singapore as part of its MAS license application.

HOOD Technical Setup

After peaking near $158 in November 2025 and getting cut nearly in half by February 2026, HOOD has been recovering inside a rising channel from the $63 lows. 

The recent bounce from the channel floor to $93 was sharp.

Today’s pullback is simply a retest of the 20 EMA at $80.19—healthy behavior after a strong run. 

The SAR at $76.96 is the bull/bear line in the sand. Above it, the daily trend stays positive.

The 100 EMA at $89.50 and 200 EMA at $91.82 are the next resistance levels overhead, both within striking distance.

Key Levels For HOOD

Support sits at $80.19 (20 EMA), then $81.41 (50 EMA), then $76.96 (SAR). 

Resistance clusters at $89.50 (100 EMA), then $91.82 (200 EMA), then $100.

Hold $80-$82 on this pullback and the channel recovery stays intact with $100 as the next major target.

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