Robinhood Crypto Debuts Solana Staking Product in Europe

Robinhood Crypto shifts focus to Europe with a series of “exclusive” updates.

Robin Hood sitting on a rock infront of a globe with a Solana coin skewered on an arrow in his hand
Created by Gabor Kovacs from DailyCoin
  • Robinhood Crypto has announced new updates.
  • The updates will be exclusive to the company’s customers in Europe.
  • The updates come on the heels of a Wells Notice from the U.S. SEC.

Robinhood Crypto has lined up a series of new in-app features tailored for its European customers, including crypto staking functionality.  

The company’s latest initiative can be seen as a move to shift focus to Europe as the U.S. market is filled with uncertainty. It comes after the U.S. Securities and Exchange Commission (SEC) issued Robinhood Crypto with a Wells Notice on May 4, signaling an upcoming enforcement action.

Robinhood Crypto Shifts Focus to Europe

In a press release dated May 15, Robinhood Crypto announced its new staking, localized apps, and crypto reward features. The updates aim to increase accessibility, improve user experience, and reinforce the company’s “commitment to Europe-based crypto traders.”

Sponsored

“Starting today, we’re introducing our first-ever crypto-staking product, which will be available exclusively to our customers in Europe. Robinhood Crypto customers can now stake their Solana (SOL) holdings directly through the app, allowing them to earn rewards with the flexibility to unstake at any time,” the statement read.

To inspire “confidence and comfort” among its customers when trading and researching cryptocurrencies, the company said it would launch local language versions of the Robinhood Crypto app “in the coming weeks,” starting with users in Italy, Poland, and Lithuania.

Additionally, Robinhood Crypto has rolled out a suite of “Learn & Earn” modules focused on BTC, AVAX, and USDC. The modules will foster crypto education while allowing customers to earn rewards “along the way.”

Per the statement, the learning modules will soon be available in multiple languages, including Polish, Italian, and Lithuanian.

Sponsored

Read about the launch of Robinhood Crypto Wallet on Android:
Robinhood Crypto Wallet Debuts on Android Platforms

Stay updated on the recent massive Dogecoin outflows from Robinhood:
Robinhood Sees Massive Dogecoin Outflows After Wells Notice

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tags
Author
Brian Danga

Brian Danga, a Kenyan crypto reporter, is dedicated to delivering breaking news and updates from the cryptocurrency world. With a background as a Web3 writer and project manager, he recognizes the importance of unbiased reporting. Holding an LLB degree from the University of Nairobi, Brian's analytical skills contribute to his accurate news reporting. His personal interests include cooking, watching documentaries, reading, and engaging in intellectual discussions.