Robinhood (Nasdaq: HOOD) executed its growth plans by launching crypto buying and selling providers within the European Union, the American brokerage introduced as we speak (Thursday). Like US customers, Europen prospects of the platform will be capable of commerce over 25 crypto buying and selling pairs.
The platform is providing crypto providers within the EU underneath Lithuania-registered Robinhood Europe, UAB, which is licensed by the Financial institution of Lithuania as a digital foreign money alternate and digital foreign money depository pockets operator.
Whereas the prevailing choices are restricted to crypto buying and selling, Robinhood Crypto plans to increase subsequent 12 months, including extra tokens, crypto transfers, and staking.
The retail commission-free dealer first unveiled its European growth plans final month. It additionally has plans for launching brokerage providers in the UK. Nevertheless, whether or not it might supply crypto buying and selling on the island throughout the English channel is unclear.
“We imagine crypto is the monetary framework for tomorrow and that it performs a big position in our mission to democratize finance for all,” mentioned Johann Kerbrat, GM of Robinhood Crypto, in an official weblog submit.
“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.”
Demand for Crypto Buying and selling Skyrockets
The platform expanded its crypto buying and selling providers exterior the US when demand for the asset class was skyrocketing. Bitcoin is witnessing a particularly bullish rally, approaching $45,000 a chunk, whereas different cryptocurrencies are additionally growing.
Lately, Robinhood revealed that its crypto buying and selling quantity jumped 75 p.c from the earlier month in November. This uptick got here when the platform witnessed a 55 p.c hunch in crypto volumes within the third quarter of the 12 months.
Nevertheless, the crypto choices of Ronhood, with solely over 25 cryptocurrencies, are a lot smaller than among the devoted crypto exchanges, which regularly checklist tons of, if not hundreds, of buying and selling pairs.
To beat its opponents within the EU, Robinhood Crypto is providing a reward scheme to customers, paying a share of their buying and selling quantity in Bitcoin each month. It additionally presents referral bonuses of as much as 1 BTC for each person.
Robinhood (Nasdaq: HOOD) executed its growth plans by launching crypto buying and selling providers within the European Union, the American brokerage introduced as we speak (Thursday). Like US customers, Europen prospects of the platform will be capable of commerce over 25 crypto buying and selling pairs.
The platform is providing crypto providers within the EU underneath Lithuania-registered Robinhood Europe, UAB, which is licensed by the Financial institution of Lithuania as a digital foreign money alternate and digital foreign money depository pockets operator.
Whereas the prevailing choices are restricted to crypto buying and selling, Robinhood Crypto plans to increase subsequent 12 months, including extra tokens, crypto transfers, and staking.
The retail commission-free dealer first unveiled its European growth plans final month. It additionally has plans for launching brokerage providers in the UK. Nevertheless, whether or not it might supply crypto buying and selling on the island throughout the English channel is unclear.
“We imagine crypto is the monetary framework for tomorrow and that it performs a big position in our mission to democratize finance for all,” mentioned Johann Kerbrat, GM of Robinhood Crypto, in an official weblog submit.
“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.”
Demand for Crypto Buying and selling Skyrockets
The platform expanded its crypto buying and selling providers exterior the US when demand for the asset class was skyrocketing. Bitcoin is witnessing a particularly bullish rally, approaching $45,000 a chunk, whereas different cryptocurrencies are additionally growing.
Lately, Robinhood revealed that its crypto buying and selling quantity jumped 75 p.c from the earlier month in November. This uptick got here when the platform witnessed a 55 p.c hunch in crypto volumes within the third quarter of the 12 months.
Nevertheless, the crypto choices of Ronhood, with solely over 25 cryptocurrencies, are a lot smaller than among the devoted crypto exchanges, which regularly checklist tons of, if not hundreds, of buying and selling pairs.
To beat its opponents within the EU, Robinhood Crypto is providing a reward scheme to customers, paying a share of their buying and selling quantity in Bitcoin each month. It additionally presents referral bonuses of as much as 1 BTC for each person.
