Robinhood, the consumer trading and investment app targeting younger generations, has expanded its international presence by launching its crypto app for eligible users in the European Union (EU).
The move follows the recent introduction of Robinhood’s services in the U.K. While the crypto trading platform is extended to EU customers, the brokerage service is initially rolled out in the U.K.
“We believe crypto is the financial framework for tomorrow and that it plays a significant role in our mission to democratize finance for all,” said Johann Kerbrat, GM of Robinhood Crypto. “For this reason, we’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favorite tokens safely and securely. The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
The EU, with its robust crypto regulations, including the Markets in Crypto-Assets (MiCA) rule, is deemed favorable for Robinhood’s global crypto expansion. The company emphasizes low fees and positions itself as the only custodial crypto platform, offering users a percentage of trading volume back monthly in Bitcoin.
Users in the EU can trade 25 cryptocurrencies, including Bitcoin and Ethereum. Robinhood pledges transparency, displaying trading spreads and ensuring the segregation of customer coins from business funds for operating purposes. The company plans to enhance its crypto offerings in the EU with additional tokens and features such as crypto transfers, staking, and learning rewards in 2024.
For a limited time, qualifying users will receive a bonus of up to 1 BTC upon their initial registration. Additionally, they have the opportunity to earn up to 1 BTC for the first 300 successful referrals meeting the eligibility criteria. Upon registration, users will be provided with an exclusive referral link that they can share with friends and family.