Robinhood has launched a brand new performance for its European customers, now permitting them to deposit and withdraw greater than 20 completely different cryptocurrencies.
Digital currencies corresponding to Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC) are accessible for transfers as of October 1.
In accordance with Robinhood, this function has been a prime request from European prospects, now giving them better management over their holdings.
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Robinhood’s growth into Europe began in December of final yr when it first launched a crypto buying and selling service within the EU. This newest replace is seen as a part of the corporate’s efforts to dive deeper into the potential of the European market. Johann Kerbrat, the pinnacle of Robinhood Crypto, commented:
With the launch of crypto transfers in Europe, we’re making self-custody and coming into DeFi less complicated and extra accessible for our prospects. Help for deposits and withdrawals provides prospects extra management over their crypto whereas making certain they’ve the identical secure, low-cost, and dependable expertise they count on from Robinhood.
The introduction of the brand new switch function comes at a time of heightened regulatory scrutiny throughout Europe relating to digital belongings. Nevertheless, Robinhood assures its stakeholders that it has been in fixed communication with regulators to make sure compliance.
Considerations arose following Robinhood’s latest $3.9 million settlement with California’s Division of Justice, which accused the corporate of stopping customers from withdrawing funds and deceptive them about crypto storage.
To reassure customers, Robinhood highlighted that almost all of their crypto is saved in safe chilly wallets. Moreover, buyer accounts are protected by top-level safety measures, and the platform offers crime insurance coverage to guard in opposition to theft and cyberattacks.
Gode is a Web3 Market Analyst who researches an important business occasions and interprets how they have an effect on the broader Web3 area. Her formal schooling in media tradition & digital rhetoric permits her to make use of a methodical strategy to evaluating vital Web3 information knowledge, together with large-scale occasions and the broader social sentiment inside the ecosystem.Gode is a mutilingual skilled, having studied in a number of universities all throughout Europe. This enables her to have a one-of-a-kind alternative to research Web3 social sentiments spanning completely different cultures and languages and, in flip, develop a a lot deeper understanding of how the Web3 area is rising inside completely different communities. With the remainder of her workforce, Gode works to establish essential crypto information patterns and supply unbiased and data-driven info.Gode’s passions embrace working and speaking with individuals, and when she’s not researching Web3 information, she spends her time touring and watching true crime documentaries.
