Robinhood has officially launched crypto trading services in the European Union. This development follows the company’s prior announcement of intentions in a recent quarterly earnings report.
For the company, renowned for its involvement in the meme-stock trading frenzy of early 2021, entering the European market marks a notable expansion. The company’s move is not only geographical but also involves the listing of 26 cryptocurrencies, showcasing its commitment to diversification.
Among the featured cryptocurrencies are SOL, MATIC, and ADA—representing the tokens associated with Solana, Polygon, and Cardano blockchains. Interestingly, these digital assets faced delisting from Robinhood’s US platform in June, citing regulatory challenges.
Johann Kerbrat, Robinhood’s head of crypto, emphasized the robust regulatory framework in the European Union as a pivotal factor in their decision-making process. Kerbrat stated, “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.”
Robinhood’s Crypto Journey
Since its inception, the company has demonstrated a keen interest in the crypto market. Beginning with Bitcoin and Ethereum in 2018, the platform has consistently expanded its crypto offerings, making it an integral part of its business model.
Despite facing regulatory scrutiny and a dip in crypto transaction revenues, the company remains steadfast in its commitment to the crypto sector. The move into the European market underscores the company’s confidence in navigating and thriving within diverse regulatory landscapes.
