Hassan Maishera
TLDR
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Robinhood now allows its European customers to transfer over 20 cryptocurrencies.
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This is part of the fintech company’s move to expand its European operations.
Robinhood Now Allows its European Customers to Transfer Crypto
Fintech giant Robinhood has announced that its customers in the European Union can now transfer more than 20 cryptocurrencies in and out of the trading app. Some of the supported cryptocurrencies include Bitcoin (BTC), ether (ETH), Solana (SOL), and USD coin (USDC).
Robinhood is expanding its services in the EU as the Markets in Crypto Assets (MiCA) regulation comes into effect. While commenting on this latest development, Johann Kerbrat, VP and general manager of Robinhood Crypto, said,
“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers. Support for deposits and withdrawals gives customers more control over their crypto while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”
This latest development comes as Robinhood expands its presence in the crypto ecosystem. In August, Bloomberg reported that Robinhood wants to launch cryptocurrency futures on its platforms and leverage its upcoming Bitstamp acquisition to do so.
Furthermore, Robinhood is currently working on its stablecoin as it plans to enter the $178 billion industry. By launching a stablecoin, Robinhood will join another fintech giant, PayPal, which launched its U.S. dollar-denominated token last summer.
