Robinhood expands into EU with crypto buying and selling and Bitcoin rewards

Robinhood has rolled out its cryptocurrency buying and selling platform for purchasers throughout the European Union, offering entry to over 25 cryptocurrencies, together with Bitcoin, Ethereum, and Solana, in response to a Dec. 7 assertion.

The corporate positions itself as a protected and controlled choice for crypto clients to entry the rising trade, providing to repay a share of its clients’ buying and selling quantity every month in BTC. The agency mentioned customers can even earn referral bonuses within the prime cryptocurrency.

Johann Kerbrat, the GM at Robinhood Crypto, mentioned crypto is the “monetary framework for tomorrow” and performs a vital position in his firm’s effort to “democratize finance for all.”

As such, the launch is a method of decreasing the “boundaries to entry for tens of millions extra” amid a big second for the rising trade. He added:

“The EU has developed one of many world’s most complete insurance policies for crypto asset regulation, which is why we selected the area to anchor Robinhood Crypto’s worldwide growth plans.”

In the meantime, this transfer marks one other stride in Robinhood’s international growth technique and dedication to democratizing finance. Final week, the agency launched its inventory brokerage providers in the UK.

Moreover that, the timing of this launch aligns with the present bullish sentiment within the crypto market. Bitcoin’s value just lately reached its highest level in practically two years amid continued optimism about approval for spot exchange-traded fund (ETF) in the US.

Comparable value efficiency has been noticed throughout different cryptocurrencies, together with Ethereum, throughout this era.

These value will increase have considerably impacted Robinhood’s buying and selling exercise. The platform reported a considerable 75% surge in cryptocurrency buying and selling quantity in November in comparison with October.

The development marks a reversal for Robinhood, which had witnessed declining crypto buying and selling actions all through many of the 12 months. For context, the agency’s third-quarter submitting revealed a 55% lower in cryptocurrency notional volumes.