AsianFin -- Robinhood Markets Inc. plans to enter the Asian market next year, selecting Singapore as its regional base, CEO Vlad Tenev announced during the company’s investor day in New York on Wednesday.

“We plan to be serving customers across Asia soon,” Tenev stated, marking the financial technology company’s latest push toward international expansion.

This move follows Robinhood’s entry into the UK earlier this year, where it introduced a portion of its hallmark services to local users. Over the past year, the Menlo Park-based firm has intensified efforts to grow in international markets, aiming to offset waning trading activity in the U.S. after a pandemic-driven surge.

Looking ahead, Robinhood has received approval to broaden its product offerings in the UK and plans to establish an Asia-Pacific office in Singapore while pursuing brokerage licenses in the region, according to Citigroup analyst Christopher Allen.