Robinhood Crypto Introduces Crypto Transfers to European Users

Robinhood Crypto, the crypto-focused subsidiary of the publicly traded fintech company Robinhood, has launched crypto transfer for European customers. This new initiative allows 27 countries within the bloc to access over 20 crypto assets within the crypto firm.

Robinhood Expands Crypto Business

Tagging the latest initiative as “one of the most requested features in the region,” Robinhood Crypto explained in a press release that launching the crypto transfer in Europe will allow for greater flexibility and control over one’s digital assets. Local investors can buy, sell, and hold digital currencies like BTC, ETH, and SOL.

Robinhood Crypto’s VP and GM, Johann Kerbrat, stated that other benefits are tied to the latest business expansion.

“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers. Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood,” he said.

The announcement added that European customers would be offered a 1% match on crypto deposits, to be paid in the same crypto they deposited. These moves will likely help the fintech firm grow its crypto assets under custody.

Not the First Entry Into Europe

This is not Robinhood’s first foray into the European financial market. In December 2023, the fintech company launched the Robinhood Crypto app in Europe. It allowed EU investors to access crypto trading with over 25 crypto assets.

Robinhood introduced new features into the crypto-focused app for its EU customers in May. These functionalities include enabling SOL staking, more crypto rewards for users, learning modules, and localized apps for investors in countries like Italy, Lithuania, and Poland.

Robinhood revealed plans to acquire one of the oldest crypto exchanges, Bitstamp, for $200 million in June. The deal, scheduled to be completed in 2025, enables Robinhood to expand its business to Asia, the United Kingdom, the United States, and the European Union.