Originally published on: October 01, 2024
Cryptocurrency enthusiasts in Europe can now rejoice as the US trading app Robinhood is introducing ‘crypto transfers’ in the region. This exciting new feature allows users to deposit and withdraw over 20 cryptocurrencies, including popular ones like Bitcoin and Ethereum, using external platforms.
Robinhood’s crypto subsidiary, Robinhood Crypto, launched the crypto transfer service for European customers on October 1st, marking a significant milestone in the company’s expansion efforts in the region. This comes almost a year after the debut of crypto trading services in Europe.
Previously, European users were limited to buying and selling cryptocurrencies on the platform without the ability to transfer their assets to external exchanges or wallets. With this latest addition, users can now seamlessly move their crypto in and out of the Robinhood app, providing them with greater flexibility and control over their investments.
According to Johann Kerbrat, the vice president and general manager of Robinhood Crypto, this move is aimed at enhancing access to self-custody and decentralized finance (DeFi) for European customers. To enjoy this feature, users will need to verify their identity and enable two-factor authentication on their accounts, ensuring a secure and seamless experience.
Robinhood’s crypto services in Europe are offered through its subsidiary, Robinhood Europe, registered as “RHEC” in Lithuania. This entity is supervised by the Lithuanian Financial Crime Investigation Service, ensuring compliance with local regulatory requirements.
While Robinhood has not disclosed the list of eligible European countries for the new crypto transfer option, the company’s latest move is sure to attract a wide range of crypto enthusiasts looking to enhance their trading experience.
In a rapidly evolving crypto landscape, Robinhood’s expansion into Europe signifies its commitment to providing innovative and user-friendly services to customers across the globe. Stay tuned for more updates on Robinhood’s exciting crypto offerings in Europe and beyond.
