Robinhood Expands Crypto App To EU With Bitcoin Rewards Program
Robinhood plans to launch its crypto app in the European Union, introducing a Bitcoin rewards program for users.
The platform will be available to eligible customers across the EU, offering a rewards initiative based on trading volume. Users can earn Bitcoin rewards, starting at 0.10% for trading volumes between €0.10 and €100,000, scaling up to 0.325% for volumes exceeding €1 million. The rewards are locked for 30 days and are contingent on users trading over €100 monthly. The EU launch follows Robinhood’s recent introduction in the UK. The platform, supporting over 25 cryptocurrencies, plans to incorporate additional features such as crypto transfers and staking in 2024.
Despite earlier delistings, Robinhood continues its crypto expansion, citing the EU’s comprehensive crypto asset regulation as a key factor in its international expansion decision. The Markets in Crypto Assets (MiCA) regulation, adopted by the EU earlier this year, provides a unified approach to crypto asset regulation across member states, streamlining market access and imposing stringent standards on disclosure and services. The Robinhood Crypto app is now available for EU citizens in eligible countries on both the iOS App Store and Google Play.
Clever Robot News Desk 9th December 2023