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Robinhood ’s long - expect outside expansion is at full throttle . The consumer trading and investment app orient to the young generations is launching itscrypto appto all eligible user in the European Union , the companysaidThursday .
The promulgation comes on the heels of itsforay into the U.K.just a week ago . While it ’s direct crypto trading to EU customer , it ’s only piddle its brokerage inspection and repair uncommitted in the U.K. for now .
The EU has been at the cutting edge of formulating regulations to apply the traceability of crypto for anti - money laundering and protecting retailers from market volatility . Among the most authoritative framework is theMarkets in Crypto - Assets ( MiCA ) principle , which focuses on stablecoin regularisation and is attend as one of the humankind ’s most comprehensive regimes for crypto assets .
“ The EU has developed one of the Earth ’s most comprehensive policies for crypto plus regulation , which is why we chose the neighborhood to anchor Robinhood Crypto ’s international expansion program , ” Johann Kerbrat , general manager of Robinhood Crypto , enjoin in a statement .
Aside from tout small fee , Robinhood claims it ’s the only tutelary crypto weapons platform — where customer pecuniary resource lie in the hands of the exchange rather than their ego - host wallets — that will get a percentage of their trading bulk back every month , paid in Bitcoin . Users in the EU can buy and sell some 25 cryptocurrencies , including major ones like Bitcoin and Ethereum .
Robinhood is adopt other measures to assure European users that they are stimulate their money ’s deserving , given its preceding business practice session have been less than ideal . In the U.S. , the Securities and Exchange Commission has criticise the stock trading app for misguide substance abuser about how it makes money and conk out to cede its promise of the secure execution of craft . It terminate uppaying $ 65 millionto settle these SEC charges .
In its crypto endeavor in the EU , Robinhood promises transparency by displaying the trading spread , which let in the rabbet it receives from sell and craft orders in the app .
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It also guarantees it will never commingle customer coins with business funds other than for operating intention , such as payment of connection fees . In the consequence of FTX ’s flop , users are progressively suspicious of centralized , tutelar crypto platforms and switch todecentralized choice .
Robinhood itself has been skittish about its crypto operations . In June , it voluntarilymoved to limit the trading and holding of sealed tokensfor its U.S. customer , at a meter when the government was taking a firmer posture against trading giants like Binance and Coinbase .
The Robinhood Crypto app , available oniOSandAndroidstarting today , is restricted to European citizens who are over 18 years old . The platform has plans to include more keepsake and sum new lineament like crypto transfers , staking and learning reinforcement in 2024 .
Robinhood bring its stock - trading platform to the UK , its first international market
