Robinhood, the popular retail investment platform, has expanded its cryptocurrency services across Europe.
Robinhood, a popular retail investing platform, extended its cryptocurrency services throughout Europe. Customers in the European Union can now transfer digital currencies to and from the Robinhood app, enhancing its regional offerings and highlighting its global growth ambitions.
Robinhood announced that EU users can deposit and withdraw over 20 different cryptocurrencies through its platform, including major digital coins like Bitcoin, Ethereum, Solana, and USD Coin. As a result, European clients can “self-custody” their assets, gaining full control over their personal wallets instead of relying solely on external services.
Robinhood’s strategic evolution marks a significant progression from its initial crypto offerings in the EU. Since December last year, the company has allowed users to buy and sell cryptocurrencies, but restricts asset transfers to external wallets or exchanges. By removing these limitations, Robinhood positions itself more competitively in the international cryptocurrency market.
MiCA boosts Robinhood optimism
Johann Kerbrat, general manager of Robinhood’s crypto division, sees strong growth potential in Europe for digital currencies, highlighting the region’s forward-thinking regulations.
In a interview with CNBChe expressed confidence that the European Union could become a key market next year. Kerbrat referred to the new European Markets in Crypto Assets (MiCA) regulation, which establishes unified rules for the crypto industry across all 27 member countries.
He stressed that once MiCA comes into full force, every EU country will operate under the same regulatory system. “In terms of total potential market, (the EU) is as big as the United States,” Kerbrat said. He also noted that Europe represents a promising opportunity for Robinhood. Harmonized regulations are expected to make it easier for crypto companies to operate and increase trust among investors.
To promote early engagement, Robinhood introduced an offer where European customers will receive 1% of the value of the tokens they deposit, returned in the form of the same cryptocurrency they transfer.
Source: Robinhood
Regulatory divide favors expansion
Robinhood’s expansion into the EU comes at a time when US crypto companies are grappling with increasing regulatory scrutiny at home. The Securities and Exchange Commission (SEC) has filed lawsuits against several companies, including Coinbase, Binance, and Ripple, alleging that they traded unregistered securities. These companies disputed the SEC’s claims, arguing that tokens traded on their platforms are not considered securities requiring registration.
“We’re disappointed with the way the U.S. regulations are set up, where it’s essentially regulation by enforcement,” Kerbrat said. “We’re not very happy to see that.”
Robinhood is federally regulated by the SEC and the Financial Industry Regulatory Authority (FINRA) in the United States, and also holds a BitLicense with the New York State Department of Financial Services.
The contrast between American and European regulatory approaches is striking. While the United States relies on coercive measures to set precedents, the EU proactively establishes clear guidelines through MiCA. This regulatory clarity in Europe is an important factor in Robinhood’s overseas expansion strategy.
Bitstamp acquisition expands its reach
In June, Robinhood announcement plans to acquire Luxembourg crypto platform Bitstamp to leverage the company’s exchange technology and increase its global reach. The deal, valued at approximately $200 million in cash, is expected to close in the first half of 2025. The acquisition is expected to give Robinhood access to additional international markets and coveted regulatory approvals around the world.
Kerbrat noted that Bitstamp holds more than 50 licenses and registrations worldwide, including Singapore, the UK and the EU. “The agreement with Bitstamp will help us access even more international markets and obtain the coveted regulatory approvals around the world,” he said. Beyond its global expansion, the partnership is also expected to help Robinhood diversify its crypto business to serve more institutional investors.
For example, Bitstamp offers a “crypto-as-a-service” platform that helps banks and other financial institutions launch their own crypto capabilities. This service could allow Robinhood to tap into the institutional market, providing new revenue streams and strengthening its position in the competitive crypto sector.
Currently, Robinhood’s cryptocurrency trading, deposit and withdrawal features are only available to customers in the European Union and not in the United Kingdom. The company launched its popular stock trading service to UK users in November the previous year, but has yet to expand its crypto services to UK customers.
