Robinhood: growth in EU goes through new crypto transfers

Robinhood sets its sights on Europe

In December 2023, the Robinhood platform decided to launch its crypto trading services in the EU as well. This is an important step to expand its market in the Old Continent, which, however, with its regulations, seemed to have stifled the company’s aspirations (somewhat like what happened in the US as well). For this reason, until now, Robinhood users have been able to buy and sell cryptocurrencies, but not move them off the platform (for example to a non-custodial wallet).

The new services presented by the company have solved this problem, offering European customers the ability to transfer their crypto with total freedom. They will be able to deposit and withdraw more than 20 different tokens, and take advantage of services typical of major cex, starting with staking.

“The EU can become a very interesting market next year,” Johann Kerbrat, director of Robinhood’s crypto unit, said on the subject in an interview with CNBC. “In terms of the ‘total addressable’ market, it’s as big as the U.S. market.”

Also playing in the territory’s favor would be MiCA, legislation deemed “crypto-friendly” and which would succeed in “harmonizing” rules within the European community.

To accompany the launch of the new services, Robinhood also decided to offer several promotions. One among them, a 1 percent bonus on the crypto deposit made upon registration.

“The EU can become a very interesting market next year,” Johann Kerbrat, director of Robinhood’s crypto unit, said on the subject in an interview with CNBC. “In terms of the ‘total addressable’ market, it’s as big as the U.S. market.”

Also playing in the territory’s favor would be MiCA, legislation deemed “crypto-friendly” and which would succeed in “harmonizing” rules within the European community.

To accompany the launch of the new services, Robinhood also decided to offer several promotions. One among them, a 1 percent bonus on the crypto deposit made upon registration.