Source. GregMontani – Pixabay
- Robinhood has launched its services for the European market, just a week after it announced its expansion to the UK market, although brokerage services are for UK clients only.
- The platform will offer some of the tokens it had to delist in the US due to regulatory concerns, including Cardano’s ADA, Polygon’s MATIC and Solana’s SOL.
Robinhood, the free stock trading app that has revolutionized the capital markets in the US, is now available for European users. The company announced its launch in the EU today and revealed it will offer some of the cryptocurrencies it had to delist in the US due to regulatory concerns, including Cardano, Polygon and Solana.
The California company announced the launch of Robinhood Crypto in the EU via a blog post, touting it to be the “only custodial crypto platform where customers will get a percentage of their trading volume back every month, paid in Bitcoin (BTC).”
GM! Robinhood Crypto is now available in the EU
Get up to 1 Bitcoin when you sign up or refer a friend: https://t.co/nOt2GneIH0
Learn more about the app, and how to get BTC back on every trade (1/7)
Terms apply* pic.twitter.com/eRKqlKmMGI
— RH (@RobinhoodCrypto) December 7, 2023
The platform will offer European users buy and sell services for over 25 cryptocurrencies at the lowest regional costs.
In his comments, Robinhood Crypto General Manager Johann Kerbrat hailed crypto as tomorrow’s financial framework. He says crypto plays a major role in the company’s mission of democratizing finance.
He added:
For this reason, we’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favourite tokens safely and securely. The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.
To attract new users in the European market, Robinhood will give back a percentage of every trade each month to its users. This will be paid back into the customer’s account and will depend on the total amount traded that month.
New users will earn up to 1 BTC for signing up and a similar amount for their first 300 referrals.
Robinhood List SOL, ADA for EU Users
Robinhood first listed crypto on its platform in 2018 and since then, it has been increasing the number of available tokens for its users. However, in the US, it had to delist some popular tokens in June this year after they were caught up in an enforcement action by the US SEC. These included Solana, Polygon and Cardano, all of whom the regulator said could be labelled securities.
However, EU users will have access to all these delisted tokens. This will be a key attraction at a time when these altcoins have been setting the pace in price surges. Solana has gained 54% in the past month, and 366% since it tumbled in the aftermath of the FTX scandal a year ago. Even Cardano has been clocking major gains, surging 17% in the past seven days.
Robinhood continues to pledge its faith in crypto. It has processed over $200 million in trading volume every quarter since the start of last year. With its expansion into the European market, the numbers are only going to rise.
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