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Robinhood has expanded its crypto services in Europe with a transfer feature that enables users to deposit and withdraw over 20 cryptocurrencies.
This move would give customers increased flexibility and control over their digital assets and includes cryptocurrencies such as Bitcoin, Solana, and USD Coin.
Robinhood Offers EU Customers a 1% Match on All Crypto Deposits
In a press release, the company announced that this feature allows users to purchase their assets from Robinhood and “self-custody” them on a third-party wallet like Trust wallet or transfer to a centralized exchange like Coinbase.
ROBINHOOD ROLLS OUT CRYPTO TRANSFERS IN EUROPE
Robinhood just dropped crypto transfers in Europe, letting users deposit and withdraw over 20 coins like Bitcoin and Ethereum.
They’re even throwing in a 1% deposit match, capped at €10,000, for a limited time!
Plus, you can… pic.twitter.com/0YNGMKtyRv
— Mario Nawfal’s Roundtable (@RoundtableSpace) October 1, 2024
To celebrate this feature, Robinhood is offering a limited-time 1% match on all crypto deposits, providing users additional value on their investments.
This means that for every euro a user deposits in cryptocurrency, Robinhood will add an additional 1% to that deposit as a bonus. For example, if a user deposits €1,000 in crypto, they would receive an extra €10, bringing their total to €1,010.
Johann Kerbrat, Robinhood’s Vice President and General Manager, commented on the latest innovation. He emphasized the platform’s diverse customer base and its adaptable approach. He also noted that while some users prioritize transferring assets in and out of the platform, others prefer investing directly within it. This flexibility is designed to cater to the varied needs of Robinhood’s clientele.
Since launching in the EU in December last year, Robinhood has been actively expanding its cryptocurrency services. Initially, users could only buy and sell cryptocurrencies within the platform.
However, the recent update addresses a key limitation by allowing users to move their digital assets off the platform, enhancing the overall functionality and appeal of Robinhood’s crypto offerings.
Robinhood Set to Launch Crypto Trading in Europe
— drager (@Drager4434) November 8, 2023
The recent announcement reflects Robinhood’s commitment to improving its offerings as it continues to expand outside of the US. Building on this momentum, Robinhood has taken a significant step to strengthen its position in the European market.
The company’s acquisition of Luxembourg-based crypto platform Bitstamp for approximately $200 million is set to bolster its global reach and improve its technology.
This deal, expected to close in early 2025, will also enable Robinhood to diversify its crypto services, particularly for institutional investors.
