Robinhood introduces its Crypto app in the European Union
In a strategic move to broaden its global reach, Robinhood, the consumer trading and investment app tailored for younger demographics, has introduced its crypto app to eligible users in the European Union (EU). This expansion follows the recent rollout of Robinhood's services in the U.K., with the crypto trading platform extending to EU customers while the brokerage service is initially launched in the U.K.
Johann Kerbrat, GM of Robinhood Crypto, expressed the company's belief in crypto as the future financial framework and its commitment to democratizing finance. The EU, renowned for its comprehensive crypto regulations, including the Markets in Crypto-Assets (MiCA) rule, serves as a favorable environment for Robinhood's international crypto expansion.
Robinhood positions itself uniquely as the sole custodial crypto platform, emphasizing low fees and offering users a percentage of trading volume back monthly in Bitcoin. EU users gain access to trade 25 cryptocurrencies, including Bitcoin and Ethereum, with the company pledging transparency in trading spreads and safeguarding customer coins from business funds.
Looking ahead, Robinhood plans to enrich its crypto offerings in the EU by introducing additional tokens and features such as crypto transfers, staking, and learning rewards in 2024.
To incentivize adoption, qualifying EU users can enjoy a bonus of up to 1 BTC upon initial registration. Furthermore, they have the opportunity to earn up to 1 BTC for the first 300 successful referrals meeting eligibility criteria. As part of the promotion, users receive an exclusive referral link upon registration, encouraging them to share the platform with friends and family.
Source: adapted from an article by Maya Robertson, Author of Archives for Mobile Marketing Reads.