European Users Can Now Trade Crypto on Robinhood App

California-based financial company Robinhood has announced the launch of the Robinhood Crypto app designed exclusively for customers in the European Union (EU). With industry-leading safety and security prioritized, the new platform allows customers to buy, sell, and hold over 25 cryptocurrencies at the lowest cost in the EU on average, according to the firm’s statement.

Alternatively, Robinhood Crypto offers rewards programs to incentivize users, including Bitcoin-back and referral opportunities. Customers will regain a portion of their monthly trading volume in Bitcoin (BTC). They can also get up to 1 BTC when registering on Robinhood Crypto EU and have a chance to earn another 1 BTC for their first 300 successful eligible referrals.

Johann Kerbrat, Crypto General Manager at Robinhood, explains the key reason behind the EU expansion is the EU’s established regulatory crypto framework. ‘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,’ he said.

Robinhood believes that ‘crypto is the financial framework for tomorrow,’ and this move will help the company accomplish its mission – financial democracy. Besides, the company is committed to providing a fair and transparent trading experience for its customers by displaying the spread with rebate information (how much they earn from each trade). 

Robinhood Crypto is limited to a number of jurisdictions, which is subject to change. It’s additionally noteworthy that users are unable to transfer crypto in and out of the platform at this time.

MiCA to Pave Way for Regulatory Certainty and Clarity

In 2019, Robinhood secured a crypto license from the Financial Conduct Authority (FCA) to launch its investment service in the UK. Last week, the firm announced plans to launch its stock trading services in the region.

With the development of the EU legal landscape, especially the expected implementation of the Markets in Crypto Assets (MiCA) regulation in 2025, crypto firms have the regulatory certainty and clarity they need to operate and grow their businesses in the EU.