Robinhood, a trading and brokerage company, has made its crypto services available to all eligible customers in the European Union (EU). These customers can now use more than 25 different cryptocurrencies.
Robinhood just recently released an app for trading stocks in the UK, which led to this move. Robinhood’s plan to grow internationally, with a focus on the European market, is in line with its move into the EU market.
Oliver McIntosh, senior product communications manager at Robinhood, talked about how important the EU is to the company’s foreign growth when asked about the company’s focus on crypto and plans to grow in Europe. McIntosh talked about how creative the EU is, especially the Market in Crypto-Assets Regulation (MiCA), which is the first complete set of rules for crypto assets in the world.
When asked about plans for future growth in the EU, McIntosh reiterated Robinhood’s dedication to making banking more accessible to everyone around the world. Putting out a private crypto product for customers in the EU is a big step toward this goal. The company is focusing on rolling out Robinhood Crypto in the European Union right now, and they haven’t given us any other information yet.
The brand-new cryptocurrency app stands out because it has no trading fees and gives customers a Bitcoin refund every month based on how much they trade. One important thing about the platform is that it is open, so users can see the spread and the rebate that Robinhood gets from buy and sell orders made in the app.
McIntosh went into more detail about the platform’s low prices and said that Robinhood’s crypto platform has ties to many crypto trade venues. This lets them get competitive prices and variable volume rebates from these trading venues, which makes sure that users have a good time buying.
Robinhood first said it was going to enter the European market in November. This new start comes six months after crypto trading services were shut down in the US. Services were cut off in the U.S. because of legal problems and pressure from regulators that other crypto companies in the country were facing.
Robinhood’s return to the crypto space in Europe shows that it is still committed to making financial services available to everyone around the world.