Robinhood, the popular investment app, is set to launch its crypto trading service in Europe beginning this Thursday, which is an exciting development for European investors.
The expansion provides access to over 25 cryptocurrencies, including well-known names like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). This follows Robinhood’s recent launch of brokerage services in the United Kingdom.
While Robinhood previously attempted to expand its presence in the UK by acquiring Ziglu, a UK-based crypto company, the deal did not go as planned.
Undaunted, Robinhood is now taking a direct approach to the European market by introducing crypto trading services.
The addition of Bitcoin rewards is one of the standout features of Robinhood’s European crypto services. The platform intends to return a portion of its monthly trading volume to customers in the form of Bitcoin.
Additionally, users can earn Bitcoin bonuses by referring friends to the platform. This novel approach aims to motivate and engage users in the cryptocurrency trading experience.
According to Johann Kerbrat, General Manager of Robinhood, the European Union’s strong regulatory framework for cryptocurrencies played a critical role in the company’s decision to choose the UK as its expansion destination.
The robust crypto regulations in the United Kingdom provide a secure and compliant environment for Robinhood to offer its crypto services to European users.