It has been revealed that the retail trading giant Robinhood is rolling out a crypto app to customers in the European Union. Check out the latest reports about this below.
Robinhood rolls out a crypto app to EU
Robinhood is expanding its cryptocurrency trading services to the European Union (EU) with the launch of a new app.
This app allows customers in the region to buy and sell 26 different cryptocurrencies.
According to Robinhood, the app has the lowest cost on average in the EU, based on quotes shown by trading platforms on November 20th.
Additionally, the app enables customers to earn a percentage of their trade back in Bitcoin (BTC), which will be directly deposited into their account.
On the other hand, it is also worth noting the fact that eligible customers will have to wait for 30 days before they can sell the rewarded crypto asset.
The firm also made sure to state the fact that the app will support more tokens, crypto transfers, crypto staking and crypto learning rewards by 2024.
“Unlike some of our competitors that have grown quickly and list hundreds of digital assets, Robinhood Crypto has taken a more conservative approach to supporting digital assets. This also means building safeguards for our products and providing better education.”
The online brokerage firm has launched an app for its European Union customers, as the EU implements the Markets in Crypto Assets Regulation (MiCA).
The regulation aims to establish a clear regulatory environment for the crypto sector and protect consumers.
Johann Kerbrat, the general manager of Robinhood Crypto, has stated that this legislation is the reason why the company has chosen to launch a crypto platform for its EU customers.
“We’re thrilled to expand crypto trading to customers throughout the EU, enabling them to buy and sell their favorite tokens safely and securely. The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
