Buying and selling and brokerage agency Robinhood introduced the launch of its crypto providers for all eligible European Union clients on Dec. 7. The platform will enable merchants to purchase and promote over 25 cryptocurrencies.
Robinhood’s entry into the European crypto market comes only a week after the agency launched its inventory buying and selling software in the UK.
Cointelegraph contacted Oliver McIntosh, senior product communications supervisor at Robinhood, to grasp the agency’s crypto focus and enlargement plans in Europe. Mcintosh stated that the EU is the best market to anchor our worldwide enlargement plans, and Robinhood “welcomes the strategy that the EU has taken in creating the world’s first complete regime for crypto property by way of the Market in Crypto-Property Regulation (MiCA).”
Requested about future enlargement plans in EU, Mcintosh stated:
“Robinhood’s mission is to democratize finance for all, and launching a custodial crypto product for patrons within the EU is a major step ahead in that journey. We’re at the moment centered on launching Robinhood Crypto for patrons within the European Union. We don’t have something extra to share right now.”
The brand new crypto app expenses zero buying and selling charges, and clients may also obtain a proportion of their buying and selling quantity again each month in Bitcoin (BTC). The brand new platform additionally prioritizes transparency, permitting clients to view the unfold, together with the rebate obtained by the corporate from promote and commerce orders within the app.
Associated: Robinhood to roll out US inventory buying and selling in British market
Mcintosh advised Cointelegraph that the Robinhood crypto platform has relationships with crypto buying and selling venues that enable them to obtain aggressive costs as they obtain variable quantity rebates from these buying and selling venues.
Robinhood first revealed its plans to launch within the European market in November. The most recent launch in Europe additionally comes six months after the agency ended assist for crypto buying and selling providers in the US in June on account of mounting regulatory strain and authorized instances in opposition to different crypto corporations.
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