Robinhood’s international expansion is in full swing with the company launching its crypto app to all eligible users in the European Union. The trading and investment app, geared towards the younger generation, recently expanded into the U.K. and is now bringing crypto trading to EU customers while making brokerage services available in the U.K. The EU has been at the forefront of regulatory frameworks for cryptocurrency, with one of the most important being the Markets in Crypto-Assets (MiCA) rule, focused on stablecoin regulation.
Robinhood’s general manager, Johann Kerbrat, cited the EU’s comprehensive policies for crypto asset regulation as the reason for choosing the region for the international expansion of Robinhood Crypto. The platform offers low fees and promises that users in the EU will receive a percentage of their trading volume back every month, paid in Bitcoin. Additionally, users can buy and sell 25 cryptocurrencies, including major ones like Bitcoin and Ethereum.
Robinhood also aims to provide transparency and assurance to European users following past criticisms in the U.S. It guarantees transparency in displaying the trading spread and assures that customer coins will not be commingled with business funds except for operating purposes. The platform plans to include more tokens and add new features like crypto transfers, staking, and learning rewards in 2024.
The Robinhood Crypto app, available on iOS and Android, is restricted to European citizens over 18 years old. It also aims to demystify its crypto operations by being transparent about its trading practices and ensuring the security of user funds.