On Tuesday, Robinhood Markets Inc. (NASDAQ: HOOD) announced that it is enhancing its crypto services in the European Union, now allowing users to transfer over 20 different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC), to and from the app.
Robinhood is a California-based financial services company known for its user-friendly trading platform, which allows users to trade stocks, options, and cryptocurrencies with no commission fees. Launched in 2013, Robinhood has gained popularity for making investing more accessible, particularly among younger, tech-savvy users.
This expansion comes as Europe’s new crypto regulations, known as the Markets in Crypto Assets (MiCA) framework, begin to be implemented.
Johann Kerbrat, VP and GM of Robinhood Crypto, had this to say:
“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers. Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”
Robinhood Crypto has introduced a limited-time offer for European customers, featuring a 1% match on all crypto deposits, paid out in the same cryptocurrency deposited. This offer, capped at €10,000 per customer, provides users with an extra incentive to engage with the platform, but rewards are only available while supplies last. To fully benefit from this promotion, eligible customers must maintain their account balance above the value of their deposits and rewards for 180 days to retain the bonus.
In addition to the deposit match, Robinhood Crypto offers a variety of other features aimed at attracting crypto investors in Europe. Customers can trade over 35 cryptocurrencies at some of the lowest average costs, with zero fees on Bitcoin trades and a €30 BTC bonus for new sign-ups. Staking options are also available, allowing users to earn an estimated 5.23% APY on SOL, along with a 100% staking earning match for a limited time. Additionally, the platform offers 15% rewards on USDC holdings and provides opportunities to earn extra r
According to a report by Helene Braun for CoinDesk, this upgrade follows Robinhood’s launch of crypto trading for EU customers ten months ago, marking a continued effort to cater to one of the most regulated crypto markets globally. The company also recently completed the rollout of its brokerage services in the U.K., which had previously been delayed due to the COVID-19 pandemic.
The CoinDesk report also mentioned that many U.S.-based crypto exchanges, including Robinhood, are intensifying their efforts in Europe as MiCA regulations create a more structured environment for the industry. In a similar vein, Coinbase is preparing to offer crypto derivatives in the EU, and Kraken has expanded its European presence by acquiring a German crypto service provider.
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