Robinhood launches crypto trading services in Europe

Trading and brokerage firm Robinhood announced the launch of its crypto services for all eligible European Union customers on Dec. 7. The platform will allow traders to buy and sell over 25 cryptocurrencies.

Robinhood’s entry into the European crypto market comes just a week after the firm launched its stock trading application in the United Kingdom.

Cointelegraph contacted Oliver McIntosh, senior product communications manager at Robinhood, to understand the firm’s crypto focus and expansion plans in Europe. Mcintosh said that the EU is the right market to anchor our international expansion plans, and Robinhood “welcomes the approach that the EU has taken in creating the world’s first comprehensive regime for crypto assets via the Market in Crypto-Assets Regulation (MiCA).”

Asked about future expansion plans in EU, Mcintosh said:

“Robinhood’s mission is to democratize finance for all, and launching a custodial crypto product for customers in the EU is a significant step forward in that journey. We’re currently focused on launching Robinhood Crypto for customers in the European Union. We don’t have anything more to share at this time.”

The new crypto app charges zero trading fees, and customers will also receive a percentage of their trading volume back every month in Bitcoin (BTC). The new platform also prioritizes transparency, allowing customers to view the spread, including the rebate received by the company from sell and trade orders in the app.

Related: Robinhood to roll out US stock trading in British market

Mcintosh told Cointelegraph that the Robinhood crypto platform has relationships with crypto trading venues that allow them to receive competitive prices as they receive variable volume rebates from those trading venues.

Robinhood first revealed its plans to launch in the European market in November. The latest launch in Europe also comes six months after the firm ended support for crypto trading services in the United States in June due to mounting regulatory pressure and legal cases against other crypto firms.

Magazine: Web3 Gamer: 65% plunge in Web3 Games in ’23 but ‘real hits’ coming, $26M NFL Rivals NFT