Robinhood Crypto has introduced crypto transfers for its European customers. They can now buy, sell, and hold over 35 cryptocurrencies, including Bitcoin, Ethereum, Solana, and USDC, according to a recent press release.
As part of the launch, Robinhood is offering a 1% deposit match on all crypto deposits for a limited time. The match is given in the same cryptocurrency deposited, with a cap of €10,000 in rewards per customer.
The platform also offers additional perks, including zero-fee Bitcoin trading, Solana staking with an estimated 5.23% annual yield, and up to 15% rewards on USDC holdings. The USDC rewards promotion runs until December 15.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, stated that the new feature provides users with greater control over their crypto assets while upholding Robinhood’s commitment to safety, affordability, and reliability.
“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers. Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood”
he noted.
Robinhood has been expanding its crypto offerings and retail trader portfolios this year, highlighted by its acquisition of Pluto Capital, a crypto and AI research platform, and the trading platform Bitstamp. These moves aim to strengthen Robinhood’s global crypto presence and attract institutional clients with new product offerings. The company plans to leverage Bitstamp’s established relationships, infrastructure, and industry-leading products.
Cryptocurrency played a major role in Robinhood’s strong second-quarter performance for 2024. In August, the company reported a 40% year-over-year increase in total net revenues, reaching $682 million. Transaction-based revenues saw a significant boost, rising 69% to $327 million, driven by robust growth in options (85%), cryptocurrencies (161%), and equities.
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