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Buying and selling and brokerage agency Robinhood introduced the launch of its crypto providers for all eligible European Union prospects on 7 December. The platform will enable merchants to purchase and promote greater than 25 cryptocurrencies.
Robinhood’s entry into the European crypto market comes only a week after the agency launched its inventory buying and selling utility in the UK.
Cointelegraph contacted Oliver McIntosh, senior product communications supervisor at Robinhood, to grasp the agency’s crypto focus and enlargement plans in Europe. Mcintosh stated that the EU is the appropriate market to anchor our worldwide enlargement plans, and Robinhood “welcomes the method that the EU has taken in creating the world’s first complete regime for crypto property by way of the Market in Crypto-assets Regulation (MiCA).”
Requested about future enlargement plans in EU, Mcintosh stated:
“Robinhood’s mission is to democratize finance for all, and launching a custodial crypto product for patrons within the EU is a major step ahead in that journey. We’re at the moment centered on launching Robinhood Crypto for patrons within the European Union. We don’t have something extra to share right now.”
The brand new crypto app fees zero buying and selling charges, and prospects will even obtain a proportion of their buying and selling quantity again each month in Bitcoin (BTC). The brand new platform additionally prioritizes transparency, permitting prospects to view the unfold, together with the rebate obtained by the corporate from promote and commerce orders within the app.
Associated: Robinhood to roll out US stock trading in British market
Mcintosh instructed Cointelegraph that the Robinhood crypto platform has relationships with crypto buying and selling venues that enable them to obtain aggressive costs as they obtain variable quantity rebates from these buying and selling venues.
The crypto buying and selling agency first revealed its plans for launch within the European market in November last month. The newest launch in Europe additionally comes six months after the agency ceased Support for crypto trading services in the United States in June owing to mounting regulatory stress and prosecution of crypto companies.
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