Commission-free brokerage firm Robinhood Markets Inc. has expanded its crypto trading venture to the European Union (EU). As the trading platform noted, its EU customers can now trade Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) as part of the more than 25 digital currencies it is currently supporting.
The Robinhood crypto EU emergence aligns perfectly with its global expansionary drives. While EU users will also gain access to the commission-free trading on offer on their crypto assets, extra perks were announced by the firm. As a custodial crypto outfit, Robinhood said its platform is the only venue where users will earn a percentage of their total traded volume every month. This incentive is paid out in Bitcoin, creating extra value added for all.
The launch of crypto trading in the EU is one of the company’s approaches to truly democratizing finance, according to Johann Kerbrat, GM of Robinhood Crypto. Johann emphasized the choice of Europe was born as a result of the clear regulatory moves within the region.
With the Markets in Crypto Assets (MiCA) regulation billed for implementation next year, more financial players are beginning to look toward Europe to do business.
Robinhood’s digital footprint growing
Robinhood remains one of the most important non-crypto-native platforms for digital asset exchanges. Several important transactions have been conducted or routed through Robinhood recently that have placed it on the map.
From the more than 300 million DOGE sold on Robinhood to the epic Shiba Inu haul where over one trillion SHIB were added, the brokerage firm has deepened its foothold in the crypto industry in recent times.
Its expansion energy is, however, being matched by its top competitors like Kraken, who are also vying to take a significant market share in the regions it plans to expand to, including the United Kingdom.