“New opportunities”: Robinhood launches crypto transfer service in EU

Robinhood Crypto, a subsidiary of Robinhood Markets, has launched crypto transfers for users in the European Union. Now they will be able to deposit and withdraw about 20 digital currencies, including BTC, ETH, and SOL, using third-party exchanges and wallets.

To enable the transfer function, users will need to verify their identity and enable two-factor authentication in their account.

Robinhood launched cryptocurrency trading in Europe about a year ago. Before that, local users could only trade digital assets on the platform itself.

Robinhood Crypto CEO Johann Kerbrat emphasized that with the launch of the transfer platform, the ban on cryptocurrency transactions no longer limits the company’s clients.

“Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood,” he said.

What is the reason for Robinhood’s desire to gain a foothold in Europe? It seems to have arisen amid increasing pressure on the American company by local regulators. The platform previously stopped listing several cryptocurrencies in the US, transactions with which could lead to legal problems.