By: Eliza Bennet
Robinhood expanded its presence into the European Union with the roll-out of its crypto trading services. The platform provides access to over 25 cryptocurrencies, including major ones like Bitcoin, Ethereum, and Solana. The launch follows Robinhood's recent expansion of its stock brokerage services in the United Kingdom.
Being a regulated platform, Robinhood aims to provide a safe environment for its customers to engage with the emerging industry of cryptocurrencies, even offering to repay users with a percentage of their trading volume each month in the form of BTC. They also offer referral bonuses in the form of Bitcoin.
Johann Kerbrat, general manager at Robinhood Crypto, views cryptocurrency as the 'financial framework for tomorrow' and sees Robinhood’s EU launch as a strategic effort to lower 'barriers to entry for millions more'. Furthermore, Robinhood experienced a significant surge in cryptocurrency trading volume, with an increase of 75% in November compared to October.
The timing coincides with a bullish sentiment in the crypto market, with Bitcoin recently reaching a new two-year-high and similar positive performances seen across other cryptos such as Ethereum.
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