Robinhood launches crypto trading services in Europe
Trading and brokerage firm Robinhood has announced the launch of its crypto service to all eligible EU clients on December 7. The platform allows traders to buy and sell more than 25 cryptocurrencies.
Robinhood's entry into the European crypto market comes a week after the company launched its stock exchange application in the United Kingdom.
Cointelegraph spoke to Oliver McIntosh, Senior Product Communications Manager at Robinhood, to understand the company's crypto focus and expansion plans in Europe. McIntosh said the EU is the right market to continue our global expansion plans and Robinhood “welcomes the EU's approach to creating the world's first comprehensive regime through the Crypto-Assets Regulation (MCA) market.”
Asked about future expansion plans in the EU, McIntosh
“Robinhood's mission is to democratize finance for all, and launching a customer-facing crypto product in the EU is a big step in that journey. We are currently focusing on launching Robin Hood Crypto for customers in the EU. We have nothing to share at this time.
The new crypto app charges zero transaction fees, and customers receive a percentage of their transaction volume monthly in Bitcoin (BTC). The new platform also prioritizes transparency, allowing customers to view distribution, including discounts received by the company from sales and trade orders, within the app.
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McIntosh told Cointelegraph that Robin Hood's crypto platform has relationships with crypto trading venues that allow them to receive competitive pricing as they receive flexible volume offers from those trading venues.
Robinhood first announced its plan to launch in the European market in November. The latest launch in Europe comes six months after the company ended support for crypto trading services in the US in June amid growing regulatory pressure and legal issues against other crypto companies.
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