Trading platform Robinhood is launching its crypto app in the EU with a Bitcoin rewards program that will see customers receive a percentage of their trading volume back in BTC every month.
According to a blog post announcing the news, Robinhood Crypto will be made available to “all eligible customers in the European Union,” along with a rewards program based on customers’ total trading volume and Bitcoin rewards in their account deposited. A referral program also offers “up to 1 BTC” for signing up and referring up to 300 friends (although Robinhood is quick to note that “98% of rewards are worth €10-20 in BTC,” with a lucky 2% of those participants receiving full ones 1 BTC).
Bitcoin rewards on Robinhood Crypto start at 0.10% for trading volumes between 0.10 and 100,000 euros, scale to 0.325% for volumes over 1 million euros, and are tied to the user's account for 30 days after they are granted. Users must also trade more than €100 in a month to receive the reward, otherwise it will be extended until they reach the €100 threshold.
The launch of Robinhood Crypto in the EU follows the launch of Robinhood in the UK last week. The platform launches trading in over 25 cryptocurrencies including Bitcoin And etherwith additional tokens, crypto transfers, crypto staking and crypto learning rewards promised in 2024. At launch, users will not be able to transfer crypto in and out of the platform, although Robinhood promises that “crypto transfers should be available in the future.”
Earlier this year, the trading platform dropped support for Cardano, Polygon And Solana after the US Securities and Exchange Commission classified them as unregistered securities in lawsuits against crypto exchanges Binance And Coinbase.
In a statement on the launch, Robinhood Crypto GM Johann Kerbart said cryptocurrencies “play an important role in our mission to democratize finance for all,” adding that the EU’s “comprehensive” crypto asset regulation played a role in their decision To anchor the trading platform internationally, expansion plans in the region were taken into account.
The EU Markets in Crypto Assets Regulation (MiCA), considered a milestone in crypto legislation, was passed earlier this year. The legislation takes a consistent approach to regulating crypto assets across all 27 EU member states, meaning companies licensed in one EU country can access other markets in the bloc with minimal paperwork. It also imposes high disclosure standards on crypto firms and sets rules for token issuers and crypto asset service providers.
The Robinhood Crypto app is available to EU residents aged 18 and over in eligible countries and can be downloaded from Apple's iOS App Store and Google Play.
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