Retail investing platform Robinhood has taken a major step toward expanding its crypto offerings in Europe. Starting this week, European users can now transfer cryptocurrencies in and out of the platform.
On Tuesday, Robinhood announced that EU customers would be able to deposit and withdraw over 20 digital currencies. This includes Bitcoin, Ethereum, Solana, and USD Coin. The functionality allows users to “self-custody” their assets, meaning they can manage their own wallets instead of relying on third-party custodians.
<h2 id="span-style-font-weight-400-a-boon-for-crypto-adoption-in-europe-span">A Boon for Crypto Adoption in Europe</h2>
Robinhood’s <a href="https://www.cnbc.com/2024/10/01/robinhood-launches-crypto-transfers-in-europe-in-push-overseas.html" rel="noopener noreferrer nofollow">expansion</a> comes on the heels of the EU’s efforts to standardize cryptocurrency regulations across its member states. Johann Kerbrat, General Manager of Robinhood’s crypto division, highlighted the potential of the EU market. With the introduction of the <a href="https://thecoinrise.com/esma-pushes-crypto-regulation-moves-amid-mica-emergence/" rel="noopener noreferrer nofollow">Markets in Crypto-Assets (MiCA) regulation</a>, crypto-friendly policies are being put in place across the bloc, creating an enticing environment for digital currencies.
Kerbrat expressed optimism that MiCA’s full implementation would make the EU major crypto hub. “The EU can become a very attractive market next year,” he noted, citing MiCA’s potential regulatory regime. This regulatory clarity could help Robinhood gain a foothold in a competitive global market. Investors are watching how this shapes up the exchange amid&nbsp; crypto firms facing challenges in the U.S.
<h2 id="span-style-font-weight-400-limited-time-promotion-for-eu-users-span">Limited-Time Promotion for EU Users</h2>
As part of the rollout, Robinhood is also offering a limited-time promotion for customers in Europe. Users will receive 1% of the value of any crypto they deposit on the platform. This initiative aims to encourage user engagement with the platform’s newly launched features.
<a href="https://thecoinrise.com/robinhood-expands-crypto-offerings-for-new-york-users/" rel="noopener noreferrer nofollow">Robinhood’s expansion</a> contrasts sharply with the regulatory hurdles faced by crypto platforms in the U.S. The U.S. Securities and Exchange Commission (SEC) has targeted major players like Coinbase, Binance, and Ripple over claims of dealing in unregistered securities. While Robinhood continues to be regulated by the SEC and FINRA in the U.S., the company’s pivot toward international markets reflects its strategic diversification.
Additionally, <a href="https://thecoinrise.com/robinhood-to-acquire-bitstamp-for-200m-in-landmark-deal/" rel="noopener noreferrer nofollow">Robinhood is set to acquire Luxembourg-based crypto platform Bitstamp</a> in a $200 million deal slated to close in the first half of 2025, further solidifying its global expansion plans.
The post <a href="https://thecoinrise.com/robinhood-expands-crypto-capabilities-in-europe-with-self-custody-option/" rel="noopener noreferrer nofollow">Robinhood Expands Crypto Capabilities in Europe with Self-Custody Option</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Robinhood Expands Crypto Capabilities in Europe with Self-Custody Option

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