In a smart move, well-known online brokerage platform Robinhood has announced that it is expanding its cryptocurrency trading capabilities to Europe. The platform has ambitious plans to expand its range of tokens and introduce additional features by 2024, including cryptocurrency transfers, strike and educational rewards.
Robinhood introduces trading app for European customers
The app, available from Dec. 7, offers access to more than 25 popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Cardano (ADA), Solana (SOL) and Polkadot (DOT). The platform plans further expansion of token selection and the introduction of additional features, such as token transfer and strike, by 2024.
Exclusively for individuals in Europe aged 18 and older, the Robinhood Crypto app is available on iOS and Android devices. Users enjoy fee-free trading and receive a percentage of their monthly trading volume back in Bitcoin. The app offers transparency by displaying the spread and discounts on sell and trade orders, and comprehensive price information to avoid hidden fees. Johann Kerbrat, GM of Robinhood Crypto, emphasized in a statement:
"We believe crypto is the financial framework for tomorrow and plays an important role in our mission to democratize finance for all. We are excited to extend crypto trading to customers across the EU, allowing them to safely buy and sell their favorite tokens."
Why the EU?
Robinhood has been trading its crypto operations with care. In June, the company took proactive steps to voluntarily restrict trading in specific tokens for U.S. customers, coinciding with a period of increasing government hostility toward major trading platforms such as Binance and Coinbase.
In contrast to the strict regulations facing crypto companies in the U.S., the European Union has taken a proactive approach by proposing the Markets in Crypto-Assets (MiCA) regulations. These regulations are designed to ensure the traceability of cryptocurrencies for anti-money laundering purposes and protect traders from market fluctuations. Johann Kerbrat also explained the choice of Europe:
"The EU has developed one of the world's most comprehensive policies for the regulation of crypto-assets. This is why we decided to choose this region as the base for Robinhood Crypto's international expansion plans."