Robinhood’s European Crypto Expansion Unveiled

December 7 marked the debut of trading and brokerage firm Robinhood’s cryptocurrency services for all eligible European Union clients. The platform will enable the purchase and sale of more than twenty-five cryptocurrencies.

The European cryptocurrency market entrance of Robinhood occurs less than one week after the company introduced its stock trading application in the United Kingdom.

Mcintosh stated that the European Union is the ideal market to base our plans for international expansion, and Robinhood “applauds the EU’s approach in developing the Market in Crypto-Assets Regulation (MiCA), the first comprehensive regime for crypto assets in the world.”

When asked about future expansion plans in the European Union, McIntosh responded, “The new cryptocurrency application has no trading fees, and users will receive a monthly Bitcoin refund equal to a percentage of their trading volume.”

“Robinhood’s mission is to democratize finance for all, and launching a custodial crypto product for customers in the EU is a significant step forward in that journey. We’re currently focused on launching Robinhood Crypto for customers in the European Union. We don’t have anything more to share at this time.”

Additionally, by emphasizing transparency, the app provides customers with the ability to observe the spread, which encompasses the rebate that the company obtains from sell and trade orders.

According to McIntosh’s statement, the Robinhood cryptocurrency platform maintains partnerships with crypto trading venues that grant them access to competitive pricing through variable volume rebates.

In November, Robinhood initially disclosed its intentions to enter the European market. In June, the firm ceased support for cryptocurrency trading services in the United States due to escalating regulatory pressure and legal cases against other cryptocurrency firms. This comes six months after the firm’s most recent launch in Europe.