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Robinhood lets Brits lend shares for income to grow international footprint
Robinhood on Wednesday launched a new feature in the U.K. allowing users to lend out any stocks they own outright in their portfolio to interested borrowers.
Customers are able to sell lent stock at any time and withdraw proceeds from sales once the trades settle, Robinhood said. "Stock Lending is another innovative way for our customers in the UK to put their investments to work and earn passive income," Jordan Sinclair, president of Robinhood U.K., said in a statement Wednesday. "We're excited to continue to give retail customers greater access to the financial system, with the product now available in our intuitive mobile app."
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