All suitable clients in the European Union region can get crypto trading services by accessing Robinhood, with more than 25 cryptocurrencies available for trade.
Robinhood, a trading and brokerage company, introduced its crypto services for all suitable European Union (EU) clients on December 7. Via this platform, traders will purchase and sell more than 25 cryptocurrencies. The firm’s entry into the new market comes only a week following the introduction of its stock trading app in the U.K.
Robinhood Executive Hail EU as Suitable for Firms Seeking Receptive Markets
Oliver McIntosh, Robinhood’s senior product communications manager, was contacted to reveal more information regarding the company’s crypto focus and expansion plans in Europe. He claimed that the European Union is the most suitable market to establish its global expansion plans.
Additionally, he claimed that Robinhood ‘is pleased by the strategy taken by the European Union in developing the globe’s initial all-inclusive regime for crypto assets through the Market in Crypto-Assets Regulation (MiCA).’
When questioned regarding future expansion plans in the European Union, Oliver claimed that Robinhood intends to ensure access to finance, and unveiling a custodial crypto product for clients in the European Union is a critical step in that pursuit.
Robinhood to Introduce Crypto for EU Clients
Robinhood’s present focus entails introducing crypto for clients in the EU. Oliver added that he could not share more information at that time.
This new crypto application has no trading fees, and each month, clients will get a part of their trading volumes back in Bitcoin. Further, the platform focuses on transparency, permitting clients to observe the spread, which includes the reimbursement acquired by the firm from trade and sell orders in the application.
Olivier revealed to a digital media resource that the Robinhood crypto network has links to crypto trading sites that permit them to acquire competitive prices as they acquire flexible volume reimbursements from the trading venues.
Robinhood initially disclosed its intentions to introduce operations in the European market last month. The most recent unveiling in Europe also comes several months following the firm’s withdrawal of support for three crypto trading pairs in the U.S. Increasing legal pressure and legal cases against crypto companies severed the support.
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