Robinhood has rolled out its cryptocurrency buying and selling platform for patrons throughout the European Union, offering entry to over 25 cryptocurrencies, together with Bitcoin, Ethereum, and Solana, in line with a Dec. 7 assertion.
The corporate positions itself as a secure and controlled choice for crypto clients to entry the rising business, providing to repay a share of its clients’ buying and selling quantity every month in BTC. The agency mentioned customers also can earn referral bonuses within the high cryptocurrency.
Johann Kerbrat, the GM at Robinhood Crypto, mentioned crypto is the “monetary framework for tomorrow” and performs an important function in his firm’s effort to “democratize finance for all.”
As such, the launch is a way of reducing the “obstacles to entry for hundreds of thousands extra” amid a big second for the rising business. 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 enlargement plans.”
In the meantime, this transfer marks one other stride in Robinhood’s international enlargement technique and dedication to democratizing finance. Final week, the agency launched its inventory brokerage companies in the UK.
In addition to that, the timing of this launch aligns with the present bullish sentiment within the crypto market. Bitcoin’s value lately reached its highest level in almost two years amid continued optimism about approval for spot exchange-traded fund (ETF) in the USA.
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 advance marks a reversal for Robinhood, which had witnessed declining crypto buying and selling actions all through many of the yr. For context, the agency’s third-quarter submitting revealed a 55% lower in cryptocurrency notional volumes.
