Expanding its Crypto Presence
Trading and brokerage firm Robinhood has announced its entry into the European crypto market. The platform will now offer crypto trading services to all eligible European Union customers, allowing them to buy and sell more than 25 cryptocurrencies. This move comes just a week after Robinhood launched its stock trading application in the United Kingdom.
Focusing on the EU Market
Robinhood sees the European Union as the perfect market to anchor its international expansion plans. Oliver McIntosh, the senior product communications manager at Robinhood, praised the EU for creating the world's first comprehensive regime for crypto assets. The company welcomes the approach taken by the EU in this regard.
Democratizing Finance for All
Robinhood's mission is to democratize finance for everyone. Launching a custodial crypto product for customers in the EU is a significant step forward in achieving this goal. Currently, Robinhood is focused on launching Robinhood Crypto for customers in the European Union, with plans for further expansion in the future.
Zero Trading Fees and Transparency
The new crypto app from Robinhood charges zero trading fees, making it an attractive option for traders. Additionally, customers will receive a percentage of their trading volume back every month in Bitcoin. The platform also prioritizes transparency by allowing customers to view the spread, including the rebate received by the company from sell and trade orders in the app.
Competitive Prices and Rebates
Robinhood has established relationships with crypto trading venues, enabling them to offer competitive prices to their customers. The company receives variable volume rebates from these trading venues, further enhancing the trading experience for users.
Overall, Robinhood's entry into the European crypto market is a significant development in the world of cryptocurrency trading. With its zero trading fees, transparent platform, and commitment to democratizing finance, Robinhood is poised to make a strong impact in Europe.
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