Robinhood Extends Crypto Trading to EU Following UK Expansion
Crypto Trading to EU, In an assertive move, Robinhood, the popular consumer trading app, is rolling out its crypto app to eligible users across the European Union (EU). This development follows closely on the heels of Robinhood’s recent entry into the UK market. While the crypto trading service extends to EU customers, the brokerage service is currently exclusive to the UK.
The EU, recognized for pioneering crypto regulations, notably the Markets in Crypto-Assets (MiCA) rule, has become the focal point of Robinhood’s international crypto expansion. Johann Kerbrat, General Manager of Robinhood Crypto, emphasized the EU’s comprehensive crypto asset policies as a key factor in this strategic move.
Promising low fees, Robinhood distinguishes itself as the sole custodial crypto platform, providing users a percentage of their trading volume back every month, paid in Bitcoin. European users gain access to trading 25 cryptocurrencies, including major players like Bitcoin and Ethereum.
Robinhood, cognizant of its past controversies, particularly with the US Securities and Exchange Commission (SEC), is prioritizing transparency in its EU crypto operations. The SEC had criticized the app for misleading users about revenue generation and failing to fulfill trade execution promises, resulting in a $65 million settlement.
In an effort to build trust, Robinhood commits to displaying trading spreads, revealing rebates from sell and trade orders. The platform ensures the separation of customer coins from business funds, except for essential operational purposes.
Crypto Trading to EU
Acknowledging the industry shift towards decentralized platforms, Robinhood vows to uphold its commitment to user security. Notably, the platform plans to introduce more tokens and features, such as crypto transfers, staking, and learning rewards, in 2024.
The Robinhood Crypto app, accessible on iOS and Android, is tailored for European citizens aged 18 and above. As Robinhood navigates the global crypto landscape, this expansion underscores its determination to provide a transparent, user-centric crypto trading experience.