Robinhood Markets Launches Crypto Transfers in Europe, Enabling Bitcoin, Ethereum, and Solana Transactions with a 1% Deposit Match for a Limited Time – Grayscale Bitcoin Mini Trust (BTC) Fractional Undivided Beneficial Interest Common Units (ARCA: BTC)

Robinhood Markets, Inc.. HOOD The cryptocurrency division launched crypto transfers for its European customers on Tuesday. This new feature allows users to deposit and withdraw over 20 different cryptocurrencies.

What happened: According to Robinhood, supported cryptocurrencies include Bitcoin BTC/USD, Ethereum ETH/USD, Solana SOL/USDAnd USD Coin USDC/USD. This feature aims to provide customers with greater flexibility and control over their digital assets.

Johann Kerbrat, Vice President and General Manager of Cryptocurrency Robinhood said: “With the launch of crypto transfers in Europe, we are making self-custody and access to DeFi simpler and more accessible for our customers. »

For a limited time, Robinhood Crypto is offering a 1% match on all crypto deposits to European customers. The match is paid in the same deposited cryptocurrency, subject to a cap.

Robinhood Crypto also offers additional benefits such as fee-free Bitcoin trading, staking rewards, and educational incentives. The company emphasizes the security of its platform, including insurance against theft and cybersecurity breaches.

See also: Amazon CEO Andy Jassy faces employee revolt over full-time return to office mandate, 73% consider quitting: survey

Why it matters: Robinhood Crypto’s launch of crypto transfers in Europe comes amid a series of strategic moves by Robinhood Markets to expand its footprint in the cryptocurrency sector.

Recently, Robinhood and Revolut Ltd. have reportedly explored the possibility of launching their stablecoins, potentially challenging the dominance of Attached USDT/USD in the $170 billion stablecoin market.

Additionally, analyst forecasts have been optimistic about Robinhood’s growth potential, with Piper Sandler Patrick Moley raising the price target on Robinhood stock, citing its expanding crypto operations and favorable retail trading environment.

However, not all the news has been positive. Cathie BoisIt is Ark Invest has reduced its holdings in Robinhood, selling shares amid interest rate swings and regulatory challenges, including a $3.9 million settlement with the California Department of Justice over a previous ban on cash withdrawals. Bitcoin.

Price action: Robinhood Markets stock closed at $23.42 on Monday, down 1.97% for the day. In pre-opening, the stock rose slightly by 0.81%. Year to date, Robinhood shares have surged 89.33%, according to data from Benzinga Pro.

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Disclaimer: This content was partially produced using AI tools and was reviewed and published by Benzinga editors.