- Robinhood has expanded into the EU.
- The company intends to disrupt the EU crypto trading market with a new approach.
- Users stand to earn Bitcoin in the newly launched service.
According to an announcement on Thursday, online brokerage giant Robinhood has launched a crypto trading service across the European Union (EU) via its app.
The move comes after the company branched out to the United Kingdom with its stock trading application on November 30, marking its second major expansion outside the U.S. The stock trading platform has a waitlist, with its services expected to debut by early next year.
Introducing a New Approach to EU Crypto Trading
According to a statement issued on December 7, Robinhood has launched its crypto trading service to all eligible customers in the EU as part of its mission to democratize finance for all.
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The company touted the app as the “only custodial crypto platform” where users can recoup a percentage of their monthly trading volume, paid in Bitcoin (BTC), and earn up to 1 BTC when they sign up and refer a friend.
In addition to paying a percentage of every trade back, Robinhood noted that the app is one of the average lowest-cost crypto trading platforms in the EU, with all-inclusive pricing for users to make informed decisions about their purchases.
“We’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favorite tokens safely and securely,” stated the GM of Robinhood Crypto, Johann Kerbrat.
Robinhood’s expansion into the EU comes as several other U.S.-based crypto native firms turn to the market for growth after facing regulatory uncertainty and pressure back at home. According to Kerbrat, the EU regulatory landscape complements its crypto venture.
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“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,” Kerbrat remarked.
With the launch, EU users can now buy and sell over 25 cryptocurrencies. Support for crypto learning rewards, crypto staking, crypto transfers, and additional tokens will launch in 2024.
Read why the SHIB community wants BONE to be included on Robinhood:
SHIB Community Pushes for BONE’s Inclusion on Robinhood
Stay updated on Robinhood’s plan to reclaim shares from Sam Bankman-Fried:
Robinhood to Buy Back Sam Bankman-Fried’s 7.6% Stake in Exchange
