In a strategic move, popular online brokerage platform Robinhood has announced the launch of its cryptocurrency trading functionality in Europe. The platform intends to expand its token lineup and introduce additional features, such as cryptocurrency transfers, staking and educational rewards, in 2024.
This development follows Robinhood’s recent plans to expand beyond the United States.
Robinhood launches cryptocurrency trading app
Robinhood’s latest crypto product is designed to allow European customers to buy, sell and hold more than 25 tokens. Among the cryptocurrencies featured are popular names such as Bitcoin, Ethereum, XRP, Cardano, Solana and Polkadot. The platform aims to further expand its token selection, with plans to introduce additional cryptocurrencies and enable features such as token transfer and staking by 2024.
The Robinhood Crypto app will only be available to those aged 18 and over in Europe, starting December 7. It is now accessible on iOS and Android devices.
The new crypto app does not impose any trading fees and users will also receive a percentage of their monthly trading volume in Bitcoin. The app will display the spread, including the discount received on sell and trade orders, and will also offer comprehensive pricing to eliminate customer concerns related to hidden fees, ensuring they receive the maximum value in crypto for their euros.
In a civil servant statementJohann Kerbrat, CEO of Robinhood Crypto, said:
“We believe crypto is the financial framework of tomorrow and plays an important role in our mission to democratize finance for all. For this reason, we are excited to extend cryptocurrency trading to customers across the EU, allowing them to buy and sell their favorite tokens securely.
Why the EU?
Robinhood has been cautious about its cryptocurrency operations. In June, the company took proactive steps to voluntarily restrict the trading and holding of specific tokens for its US customer base, coinciding with a period when the government was taking a more hostile stance towards large trading platforms like Binance and Coinbase.
Unlike the regulatory oversight crypto companies face in the United States, the European Union has taken a proactive approach by proposing the Markets in Crypto Assets (MiCA) Regulation to ensure the traceability of cryptocurrencies to for anti-money laundering purposes and to protect traders. market fluctuations.
Addressing the reasons for choosing Europe, Kerbrat said
“The EU has developed one of the most comprehensive policies in the world when it comes to regulating crypto assets, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
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