Robinhood Disrupts European Crypto Market with Commission-Free Trading for BTC, ETH, SOL, and More Amidst Cryptocurrency Surge
Crypto News – In a groundbreaking move reported by Bloomberg today, Robinhood Markets Inc. is poised to reshape the European cryptocurrency landscape by introducing commission-free trading. Building on its successful entry into the UK’s stock-broking market, the platform is now preparing to provide European investors with access to over 25 cryptocurrencies, including flagship tokens like Bitcoin and Ethereum.
This strategic expansion is strategically timed to align with the recent surge in cryptocurrency prices, promising a compelling future in the rapidly evolving digital asset realm.
Robinhood Expands Its Crypto Presence in Europe
Robinhood Markets Inc. is on the verge of disrupting the European cryptocurrency scene through the introduction of commission-free trading. This strategic move mirrors its recent penetration of the UK stock-broking market. The platform is scheduled to go live this Thursday, offering European investors seamless access to trade more than 25 cryptocurrencies, including the prominent assets Bitcoin, Ethereum, and Solana, among others. This development marks a pivotal moment in the maturing digital asset landscape within the region.
In an exclusive interview, Johann Kerbrat, the General Manager of Robinhood Crypto, unveiled an innovative cashback-style loyalty program to accompany the app’s launch. Under this program, a percentage of each user’s monthly trading volume will be credited in the form of Bitcoin. This initiative enhances the user experience while fostering a sense of loyalty among the platform’s growing user base.
Notably, Robinhood’s revenue strategy for its European crypto brokerage includes obtaining a rebate from market makers and trading venues executing trades on its behalf. Kerbrat disclosed that in Europe, this rebate would amount to approximately “65 basis points” per trade, nearly double the 35 basis points earned from cryptocurrency orders in the United States.
This robust revenue model comes at a time when crypto notional trading volumes on Robinhood witnessed a significant 75% surge in November compared to the previous month.
What Lies Ahead?
While the European expansion marks a significant milestone for Robinhood, the company has opted not to extend its crypto services to UK investors due to regulatory uncertainties surrounding digital assets in the UK. In contrast, the company has been registered as a virtual currency exchange operator in Lithuania since September, showcasing its commitment to navigating regulatory landscapes and fostering a global crypto community.
As cryptocurrency prices soar and anticipation mounts regarding a Spot Bitcoin ETF, Robinhood’s foray into Europe not only capitalizes on the crypto resurgence but also sets the stage for further growth. With plans to introduce features such as crypto holding transfers and additional tokens in the coming year, Robinhood’s commitment to evolving within the dynamic crypto landscape remains steadfast.
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