Robinhood introduces cryptocurrency trading app in Europe
Robinhood’s funding app has formally unveiled its cryptocurrency buying and selling utility within the European Union. The app is ready to turn into operational on Thursday, December 7, providing traders entry to over 25 cash and tokens, together with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
In immediately’s announcement, Robinhood said that its platform is the one one available in the market that gives a proportion reimbursement of consumers’ month-to-month buying and selling quantity in BTC. Moreover, customers have the chance to earn referral bonuses in Bitcoin.
The commission-free retail dealer initially revealed its intentions for European enlargement final month. Moreover, it has intentions to introduce brokerage companies in the UK.
Robinhood is ready to return to Nottingham
Robinhood additionally introduced that it’s gearing as much as launch its platform within the U.Okay. in early 2024, marking its third try at worldwide enlargement.
Key options embody selecting from 6,000 U.S. shares and 24-hour buying and selling, out there 5 days per week.
Initially, Robinhood gained’t present U.Okay. shares, however there are plans to include them because the platform expands its product choices. The U.Okay. model is not going to embody choices and different derivatives on the launch.
Jordan Sinclair, Robinhood’s U.Okay. chief, anticipates that 24-hour buying and selling can be well-received, enabling customers to make trades primarily based on market-moving information.
The corporate had two earlier failed makes an attempt; in 2019, it deserted its U.Okay. enlargement plans and attributed the choice to surging home demand in the course of the Covid pandemic, as curiosity in retail investing skilled a major surge.
The next yr, Robinhood aimed to amass the British crypto-trading app Ziglu. Sadly, the deal encountered obstacles, resulting in Robinhood writing off the worth of its funding and reporting a $12 million impairment cost on the unsuccessful transaction.
