Robinhood Unleashes Commission-Free Crypto Trading Across Europe

Robinhood Markets Inc. is revolutionizing crypto trading in the European Union by introducing commission-free services. The app, set to launch this Thursday, empowers European investors to engage in seamless transactions involving over 25 cryptocurrencies. Popular options like Bitcoin, Ether, and Solana’s SOL are among the options available, as highlighted by Johann Kerbrat, the General Manager of Robinhood Crypto.

According to a report by Emily Nicole for Bloomberg, Robinhood is introducing a loyalty program reminiscent of cashback. Such an inventive undertaking pays customers up to forty percent of their monthly volume in Bitcoin, which makes the site more intriguing!

This launch will take place at a time when the crypto market has recovered. The optimism that such US interest rate hikes could be delayed, coupled with anticipation for the launch of the industry’s “first”- a Bitcoin-linked exchange-traded fund (ETF), as soon as next month. This implies that Robinhood increased its crypto traders’ volume by 3 quarters in November.

However, Robinhood has been quite careful in extending its Crypto Services into the UK following its successful expansion of Robinhood within Europe. Regulatory risks inherent in the home digital asset environment bring about the caution.

Robinhood Crypto Revenue: Rebates, European Expansion

The revenue it generates from crypto brokerage comes from sharing rebates with marketers and trading venues. This rebate is about 0.65 percent of a trade in the European Market, while in the US, it is just less than a percent of a trade when executing crypto orders.

Although crypto prices have risen this year, trading volumes have not attained the record levels registered during the highest pandemic infection spread. The reserved excitement about Robinhood is visible in its current performance, particularly its third quarter, which saw reduced revenue mainly from crypto trades, which decreased by approximately 55% compared to the previous year’s figures.

In the future, Robinhood Crypto European users will first transact their assets via the app itself. These include new tokens such as diverse ones and staking services that should be implemented during the period 2011.

Since September, Robinhood has held the status of a registered virtual currency exchange operator in Lithuania. The company is actively seeking approvals in additional EU countries to gain full authorization as a crypto service provider in at least one EU member state by early 2025, in compliance with the impending Markets in Cryptoassets (MiCA) regime.

Related Reading | Binance Halts AEUR Trading: 200% Surge Sparks Volatility Concerns

Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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