Robinhood Crypto has rolled out crypto transfers for its clients in Europe, addressing a function that customers within the area have extremely requested.
This launch permits Robinhood clients to deposit and withdraw greater than 20 cryptocurrencies, together with main property like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC), in accordance with a press launch shared with crypto.information.
As a part of the launch, Robinhood is providing a 1% deposit match on all crypto deposits for a restricted time. The match is paid out in the identical crypto as deposited, with a most of €10,000 rewards per buyer.
European clients utilizing Robinhood Crypto may also purchase, promote, and maintain over 35 cryptocurrencies at what Robinhood claims are the bottom common prices.
Different advantages embrace zero-fee Bitcoin buying and selling, staking Solana to earn an estimated 5.23% annual proportion yield, and incomes as much as 15% rewards on USD Coin holdings, with no restrict. The USDC rewards promotion ends Dec. 15.
Johann Kerbrat, vice chairman and common supervisor of Robinhood Crypto, stated the brand new function affords extra management over crypto holdings whereas sustaining Robinhood’s hallmark of security, low price, and reliability.
“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers. Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”
Johann Kerbrat
Robinhood and crypto
Robinhood has been actively diversifying its crypto choices and retail dealer portfolios this yr. The corporate acquired Pluto Capital, a crypto and synthetic intelligence analysis platform, in addition to the buying and selling platform Bitstamp. Each strikes had been aimed toward increasing Robinhood’s world crypto presence and attracting institutional shoppers by new product choices.
Robinhood made it clear they intend to make use of Bitstamp’s established relationships, infrastructure, and industry-leading merchandise.
Robinhood reported a worthwhile second quarter in 2024, with a 40% year-over-year income improve to $682 million, pushed by a renewed curiosity in crypto buying and selling. The agency’s crypto transaction-based revenues rose 161% to $81 million, whereas crypto property underneath custody grew 57% to $20.6 billion.
Robinhood’s inventory trades on the Nasdaq change. Shares are up almost 90% for the reason that begin of the yr, drastically outperforming rivals like Coinbase whose shares are up round 14% in 2024.
