Robinhood Brings Zero-Fee Crypto Trading to EU Citizens After UK Rollout

BySamson Ononeme

Dec 7, 2023 , ,
Robinhood Brings No-Fee Crypto Trading to EU Retail Investors

Key Insights

  • Robinhood launches commission-free crypto trading platform for EU citizens after debuting UK app
  • Comes 6 months after ending similar US crypto services amid legal pressures on digital asset providers
  • Company focused on expanding across Europe to further “democratize finance for all” motto

LONDON β€” Robinhood expanded its growing European presence this week, launching a cryptocurrency trading platform for customers across the European Union just days after debuting its stock investing app in the United Kingdom.

The U.S.-based trading provider’s latest offering furnishes EU citizens the ability to buy and sell major digital tokens like Bitcoin and Ethereum with no trading commissions. Additionally, Robinhood will share a portion of revenues with active crypto traders in the form of Bitcoin rebates each month.

In an interview, Robinhood’s head of international communications Oliver McIntosh said the company is focused squarely on the EU for now as its comprehensive regulatory framework provides clarity around digital asset guidelines. However, McIntosh declined to elaborate on further European expansion plans at this time.

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After Exiting US, Robinhood Targets EU Traders

The crypto platform introduction comes six months after Robinhood discontinued similar services domestically in the U.S. amidst mounting legal pressures and sanctions against rival platforms. The company meanwhile continues pushing internationally to capture new demographics.

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With the motto “democratizing finance for all,” Robinhood’s latest EU crypto gambit aligns with its central mission by aiming to broaden retail access through zero-fees and incentives like BTC kickbacks. As adoption grows, however, EU regulators will likely monitor closely given recent market volatility tied to digital assets.

Samson Ononeme

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