Robinhood introduces an application for trading cryptocurrencies in Europe

Robinhood introduces an application for trading cryptocurrencies in Europe

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by Max Nevskyi

3 years ago

According to Johann Kerbrat, the CEO of Robinhood Crypto, the new app will enable investors from the European Union to trade over 25 types of cryptocurrencies, including Bitcoin, Ethereum, and Solana. Additionally, the company has announced a loyalty program that offers users bonuses based on their monthly trading volume.

These innovations are linked to the growing interest in the cryptocurrency market, fueled by expectations of U.S. regulators approving spot cryptocurrency ETFs. The platform reported a significant 75% increase in cryptocurrency trading volumes in November, indicating a resurgence of interest among retail investors.

In the coming months, the company expects positive changes, planning to expand its presence not only in the European Union but also in the UK market. The increase in trading volumes of Bitcoin and other cryptocurrencies on Robinhood has contributed to the overall revival of the digital asset market since early November.

Recently, Robinhood became the fifth-largest holder of ETH, with the company's wallet holding $2.5 billion in Ethereum. The company made cryptocurrency investments available on its platform in 2021. However, according to the latest report, revenue from cryptocurrency trading in the second quarter fell by $7 million to $31 million.

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