Robinhood Crypto launches staking service and localized apps in Europe

New users will be able to receive a 10% bonus on purchases within 30 days of registration

15.05.2024 - 14:35

3 min

What’s new? The cryptocurrency platform of the online broker Robinhood has launched a number of localized apps, a staking service, a bonus program for new customers, and updated modules of its Learn & Earn education platform in Europe. “Our customers in Europe have told us loud and clear that they want an app that provides local language support and products that help them earn additional passive income,” said Johann Kerbrat, Robinhood’s Crypto Vice President and General Manager.

Press release

What else is known? Robinhood’s staking service is only available in Europe and supports native tokens of the Solana (SOL) blockchain. Customers will be able to stake SOL directly through the app and earn rewards there, with tokens unlockable at any time.

A bonus program has also been launched as part of the strategy to attract new users and improve their cryptocurrency investing experience. New customers will be able to receive a bonus of 10% of their purchases within 30 days of registration. The bonuses will be paid in USDC stablecoins from the Circle issuer.

Localized apps will first appear in Italy, Poland, and Lithuania. This is probably because, according to the company’s own data, these countries lead in the number of downloads of the Robinhood Crypto app in Europe. Localization is expected for other countries in the coming weeks.

Crypto trading volumes on the Robinhood platform grew by 224% in the quarter

The share of crypto services in the broker’s transaction revenue has reached 40%

In addition, additional multi-language learning modules have been developed for the Learn & Earn platform. The new lessons are dedicated to bitcoin, the native token of the Avalanche (AVAX) blockchain and USDC.

The company noted that since its launch in Europe, the highest trading volumes on the platform have been recorded for bitcoin, Ethereum, Solana, and the Solana-based meme token Dogwifhat (WIF). Bitcoin remains the most popular cryptocurrency on Robinhood Crypto in Europe.

In a survey, a third of users in Europe said that Robinhood Crypto was their first cryptocurrency trading platform.

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