Robinhood Expands EU Crypto Services with New Transfer Features
Robinhood, the US-based fintech firm, is expanding its cryptocurrency services in the European Union by offering customers the ability to deposit and withdraw over 20 cryptocurrencies, including Bitcoin. This move comes in response to increasing customer demand for more control over their digital assets.
Currently, Robinhood provides several crypto-related services in select EU countries, including cryptocurrency trading, staking, and an educational product that rewards users for learning about crypto. The addition of crypto transfers enhances these offerings, giving users more flexibility.
Robinhood’s Crypto Transfer Feature
The new crypto transfer feature allows Robinhood customers to deposit and withdraw a range of popular cryptocurrencies, such as Bitcoin, Ethereum, and Solana. Robinhood, known for its commission-free stock trading, aims to offer its customers more control over their digital holdings.
Johann Kerbrat, VP and GM of Robinhood Crypto, said, “We cater to different types of customers. Some are advanced users who value the ability to transfer assets in and out of the platform, while others prefer to invest directly on the platform.”
In the US, Robinhood’s crypto transfer service saw significant interest, with millions on the waitlist at launch. To attract EU users to the new service, Robinhood is offering a 1% match on all crypto deposits for a limited time, paid in the same cryptocurrency that is deposited.
No UK Crypto Services, Bitstamp Acquisition
Robinhood currently does not offer crypto services in the UK, and Kerbrat declined to share how many EU customers the company serves. However, earlier this year, Robinhood acquired European cryptocurrency exchange Bitstamp in a $200 million deal, which is expected to close in the first half of next year.
