April 23 (Reuters) - Robinhood HOOD.O said on Thursday it had received in-principle approval from the Monetary Authority of Singapore to offer brokerage services in the city-state.

The regulatory nod allows the U.S.-based trading platform to start offering services including trading of securities, exchange-traded derivatives, custody, product financing and collective investment funds, the company said in a statement.

Singapore, which has emerged as a centre for crypto in Asia in recent years, serves as Robinhood's Asia-Pacific headquarters.

The fintech company has been actively working on expanding into Asia since 2024. In December last year, it entered Indonesia - one of Southeast Asia's major crypto hubs - by acquiring a brokerage firm and a licensed digital asset trader.

Robinhood's commission-free, app-based platform is widely credited with disrupting U.S. retail trading by drawing in a new generation of investors and changing how Americans engage with stock markets.