Robinhood is now offering cryptocurrency trading services throughout Europe. Robinhood provides crypto trading services to all eligible users in the EU zone, with over 25 cryptocurrencies available for trade. On December 7, trading and brokerage firm Robinhood announced the availability of its crypto services to all eligible European Union consumers. Traders will be able to purchase and sell over 25 cryptocurrencies on the site. Robinhood’s debut in the European cryptocurrency market comes just a week after the company released its stock trading app in the United Kingdom. Cointelegraph reached out to Oliver McIntosh, senior product communications manager at Robinhood, to learn more about the company’s crypto emphasis and European expansion plans.
According to Mcintosh, the EU is the perfect market to underpin our international expansion aspirations, and Robinhood “welcomes the approach that the EU has taken in creating the world’s first comprehensive regime for crypto assets via the Market in Crypto-Assets Regulation (MiCA).” When asked about future intentions for expansion in the EU, Mcintosh stated, “Robinhood’s mission is to democratize finance for all, and the launch of a custodial crypto product for customers in the EU is a significant step forward in that journey.” We are now concentrating on introducing Robinhood Crypto for European Union consumers. We don’t have anything else to say at the moment.”The new crypto software has no trading fees, and consumers will receive a percentage of their trading volume back in Bitcoin every month.
Mcintosh told Cointelegraph that the Robinhood crypto platform has ties with crypto trading venues that allow them to receive competitive prices since such trading platforms offer variable volume rebates. In November, Robinhood announced its intention to enter the European market. The current European launch comes six months after the firm discontinued support for cryptocurrency trading services in the United States in June due to mounting regulatory pressure and litigation lawsuits against other crypto firms.