- Robinhood recently integrated crypto transfer in Europe, allowing users to transfer over 20 digital currencies.
- Crypto transfers in Europe can be made with 1% back on deposits for a limited time.
- Its expansion plan includes the acquisition of Bitstamp for $200M by 2025.
On October 1, Robinhood disclosed the release of their new feature that would enable European customers to transfer their assets. This was rolled out in Europe in late December 2023. It will allow users to deposit and withdraw Bitcoin and other cryptocurrencies.
The addition of cryptocurrency services in Europe is among the strategies Robinhood focuses on for growth. The European market remains the best market for the platform, given the increasing number of investors worldwide in crypto-space time.
Robinhood Enhances Its Presence in Europe With New Offerings
Robinhood is a California-based company. The firm provides financial services and trading applications for customers seeking to convey stocks, options, or cryptocurrency with no commission.
Starting in 2013, this company’s app quickly got an enormous number of users. It has tons of positive feedback for making investing as easy as possible for the new generation of traders.
This expansion occurred as Europe’s new crypto regulation laws, Markets in Crypto Assets (MiCA), started taking effect. These laws were introduced to maintain the regulatory environment.
Their new transfer option is an enhancement from the previous one. It allows users to have more functional controls over the investment.
One can transfer between the Robinhood platform and wallets like Metamask or exchanges like Binance.
This shift is in tandem with the decentralization trend. In this trend, users prefer to self-custody their assets in personal wallets rather than use a centralized service.
Johann Kerbat is the Vice President and General Manager of Robinhood Crypto. He said the update would help users get into self-custody and ensure self-control while being secure and easy to use.
He said,
”Support for deposits and withdrawals will let customers manage their crypto better while providing them with the same secure, affordable, and simple experience they get from Robinhood.”
New Incentives Launched Alongside Supported CryptoCurrencies
Robinhood’s crypto transfer feature at the moment has over 20 cryptocurrencies based on the current trending coins. Among these are the most used cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and the USD coin (USDC).
Robinhood is marketing this new service through a rebate of 1%. The latest cryptocurrency clients place it into the new service for an early period.
Robinhood’s WorldWide Expansion: How Security Measures Play a Key Role
Robinhood has been growing intensively. It has expanded the availability of cryptocurrencies all around the globe while facing legal problems.
The new feature of crypto transfers can enhance the company’s presence in the European market.
This year, Robinhood disclosed plans to acquire a cryptocurrency exchange. This exchange is primarily dedicated to Europe, known as Bitstamp.
They have finalized the deal, which is valued at $200 Million. There is anticipation that it will close in the first half of 2025.
Like other brokerage firms, Robinhood also has the safety of customer funds as its goal in some respects.
The company has placed the most critical assets in cold storage regarding security. Moreover, the firm has insurance for criminal actions such as phishing and cyber theft.
Disclaimer
The details in this article are for informational purposes only. It does not constitute financial or investment advice for the readers. Investing in crypto assets carries the risk of financial loss. Readers should do their own research before making any investment in crypto assets.
