Online brokerage firm Robinhood has just announced the expansion of its crypto trading services to the European market. Users in the Old Continent will now be able to buy and sell Bitcoin, Ethereum and Solana without commissions.
An attractive offer to attract European crypto investors
The famous American commission-free brokerage platform Robinhood is taking a crucial step in its global expansion by establishing itself in Europe. Now its European users can trade Bitcoin, Ethereum and Solana, three flagship cryptocurrencies, among the more than 25 digital currencies supported, without paying any fees.
With this news offer, Robinhood hopes to attract retail investors in Europe, attracted by the prospect of trading popular crypto without hidden commissions. The American platform is banking on this positioning to take market share from historic players in the sector such as Coinbase or Kraken.
And that’s not all: to further lure crypto traders, Robinhood offers its European customers a percentage of their trading volume in the form of Bitcoin every month. A bonus as attractive as it is unprecedented!
Robinhood banks on future MiCA regulation
If Robinhood chose this precise moment to establish itself in Europe, it is also because of the favorable regulatory context. The European Union should in fact adopt its “MiCA” law governing cryptos in 2024.
By arriving now, Robinhood will be able to offer its services while respecting this new framework, reassuring for users who are still wary. The company is also ahead of competitors like Kraken, who also planned to take advantage of this regulation to establish themselves in Europe.
In just a few years, the American unicorn has become a must for trading certain star cryptocurrencies. In 2021 alone, $300 million in Dogecoin passed through the platform. As for Shiba Inu Coin, more than a trillion units have been purchased on Robinhood this year.
With this expansion, Robinhood confirms its global ambitions and its strategy to consolidate its presence in the rapidly expanding European market. Europe constitutes a crucial market, which the company could not ignore.
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