Robinhood Markets has introduced a new feature for its European users, allowing them to deposit and withdraw over 20 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC). This move marks a big step forward for Robinhood in expanding its services in Europe.
To celebrate the launch, Robinhood Crypto is offering a 1% match on all crypto deposits for a limited time, paid in the same cryptocurrency. Johann Kerbrat, the VP and General Manager of Robinhood Crypto, said, “We’re making it easier for our customers to manage their crypto and access DeFi.”
What Robinhood Crypto Offers in Europe
Along with the new transfer feature, European users can also access:
- Trading for over 35 cryptocurrencies
- Commission-free Bitcoin trading with a sign-up bonus
- Staking options for Solana (SOL)
- High-yield rewards on USD Coin (USDC)
- Educational programs with crypto rewards
Robinhood assures customers that their assets are safe, storing the majority in cold storage, providing crime insurance, and not lending or leveraging customer crypto.
Robinhood’s Growing Crypto Services
Robinhood is steadily growing its crypto offerings. After expanding its crypto services to Europe in December 2023, the company has added features like staking and localized its app for different languages. There’s even talk of Robinhood launching its own stablecoin and potentially offering cryptocurrency futures trading in both the U.S. and Europe.
In its Q2 2024 report, Robinhood revealed that revenue from cryptocurrency trading has more than doubled, reaching $81 million. This shows just how important crypto has become to the company’s overall growth.
Robinhood’s continued focus on expanding its crypto services highlights its commitment to meeting the needs of its growing European user base and strengthening its position in the global cryptocurrency market.