Hold onto your hats, European crypto enthusiasts, because Robinhood is about to make your day! Robinhood Markets’ crypto arm is stepping up its game across the pond, rolling out features that make self-custody and DeFi more accessible than ever. Imagine being able to deposit and withdraw over 20 different digital assets, including big names like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC).
Robinhood dipped its toes into the EU crypto waters back in December, letting users buy and sell cryptocurrencies. But until now, transferring those assets to third-party platforms or personal wallets was off the table. Not anymore!
To sweeten the deal, Robinhood Crypto is offering a limited-time 1% match on all crypto deposits for its European customers. That's right, you get a little bonus in the same asset you're depositing, although there's a cap on this nifty perk.
Johann Kerbrat, the brains behind Robinhood Crypto, is super pumped about this expansion. “With the launch of crypto transfers in Europe, we’re making self-custody and DeFi simpler and more accessible for our customers,” he said. “Support for deposits and withdrawals gives customers more control over their crypto while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”
Kerbrat is also bullish on the EU’s potential to become a crypto powerhouse, thanks to the region's adoption of crypto-friendly regulations. He mentioned the Markets in Crypto-Assets (MiCA) policy as a game-changer, suggesting it will make the EU a unified and attractive market for digital currencies.
And if you're wondering about Robinhood's financial health, the company is crushing it. Their latest earnings report shows record revenues of $618 million for the first quarter of 2024, up 40% from the previous year. Crypto revenue alone skyrocketed by 232%, hitting $126 million. The company also reported a net income of $157 million, or 18 cents per share, blowing past analysts' expectations of 6 cents per share.
All this comes despite some heat from the US Securities and Exchange Commission (SEC), which has been eyeing Robinhood’s crypto operations. But hey, it looks like nothing can slow down this crypto juggernaut! So, European crypto fans, gear up—Robinhood is bringing the future of finance right to your doorstep.
