Ethereum

United

Bitcoin

Impact

<ul>
  
 <li>Robinhood now allows European users to transfer over 20 cryptocurrencies, including Bitcoin, to external wallets or exchanges.</li>   
 <li>Robinhood expands in Europe, offering self-custody crypto transfers as MiCA regulations streamline EU’s crypto market.</li>   
 <li>Robinhood’s crypto transfer feature boosts user control, allowing secure Bitcoin and Ethereum withdrawals across Europe.</li> 
</ul>   
<p>United States trading app Robinhood is expanding cryptocurrency services in Europe by allowing customers to deposit and withdraw crypto using external platforms.</p>   
<p>This is a significant step towards allowing European clients to take charge of their digital personae. Earlier, <a href="https://cryptonewsland.com/?s=Robinhood" target="_blank" rel="noreferrer noopener sponsored nofollow">Robinhood’s</a> crypto trading in Europe failed to support the transfer of digital assets to other platforms or wallets but could help buy and sell them.</p>   
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   https://twitter.com/RobinhoodCrypto/status/1841032813723763011 
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<h2 class="wp-block-heading" id="h-enabling-crypto-transfers-and-self-custody"><strong>Enabling Crypto Transfers and Self-Custody</strong></h2>   
<p>The feature allows European users to deposit and withdraw about 20 cryptocurrencies, including Bitcoin, Ethereum, Solana, and USD coins. Robinhood users in Europe can now transfer their cryptocurrencies to their wallets or to other exchange platforms for additional trading. This update corresponds with the current trend of decentralized finance and self-custody, which gives users the ability and freedom to manage their funds without third-party platforms.</p>   
<p>According to Johann Kerbrat, the general manager of the Robinhood crypto division, this change will give users better control over their crypto assets with an equal level of security and reliability as Robinhood currently offers.</p>   
<h2 class="wp-block-heading" id="h-robinhood-s-strategy-in-europe-and-the-impact-of-mica"><strong>Robinhood’s Strategy in Europe and the Impact of MiCA</strong></h2>   
<p>Robinhood has rolled out crypto transfer functionality in Europe nearly a year after the platform launched its cryptocurrency trading in the region in late 2023. This is considered part of the company’s wider plan to expand its operations in the European Union, a region gaining appeal because of friendly legislation such as the <a href="https://cryptonewsland.com/france-initiates-mica-licensing-for-crypto-asset-providers/" target="_blank" rel="noreferrer noopener sponsored nofollow">MiCA regulation.</a>&nbsp;</p>   
<p>MiCA creates a consistent regulatory framework for the cryptocurrency market in the EU, offering more stable conditions for business in the segment.</p>   
<p>Kerbrat pointed out that, in the following years, the European Union might become one of the most attractive regions for digital currencies based on factors such as market size and the unified legislative system. Given that the transfer of cryptocurrency is now becoming popular, particularly among retail and institutional investors, Robinhood can capture this market, especially by offering crypto transfer services.</p>   
<h2 class="wp-block-heading" id="h-enhanced-features-and-compliance-measures"><strong>Enhanced Features and Compliance Measures</strong></h2>   
<p>This is a strategic step in Robinhood’s internationalization strategy as it struggles to deal with <a href="https://cryptonewsland.com/robinhood-crypto-settles-for-3-9-million-over-withdrawal-issues/" target="_blank" rel="noreferrer noopener sponsored nofollow">regulation issues</a> in the US—SEC and FINRA—and state laws under New York’s BitLicense.</p>   
<p>To ensure compliance with European regulations, Robinhood’s cryptocurrency services are offered through its Lithuanian entity, Robinhood Europe (RHEC), registered as a virtual currency exchange and depository wallet operator. The Lithuanian Financial Crime Investigation Service supervises the platform, ensuring all operations meet local regulatory standards.</p>   
<p>In addition to regulatory oversight, Robinhood has implemented security measures for crypto transfers. Before users can transfer their assets, they are required to confirm their identity and activate two-factor authentication. It has also established a five-day review on verifying accounts to curb fraud and embrace anti-money laundering policies.</p> 
<p>The post <a href="https://cryptonewsland.com/robinhood-launches-crypto-transfer-services-across-europe/">Robinhood Launches Crypto Transfer Services Across Europe</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Robinhood Launches Crypto Transfer Services Across Europe

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