Robinhood are making their latest crypto expansion push across Europe by making US stocks and EFTs available to customers.
The new offering will see Robinhood Crypto make US listed equities become available to more than 400 million customers across 30 EU and European Economic Area (EEA) countries.
Robinhood Crypto will unveil its latest product launches at its ‘To Catch a Token’ event in Cannes, France today (June 30), which Payment Expert will be present to cover.
“Our latest offerings lay the groundwork for crypto to become the backbone of the global financial system,” said Robinhood Chairman and CEO Vlad Tenev.
Among the product launches, Robinhood will launch US stock and ETF tokens in the EU to enable eligible customers access to US equities with Robinhood Stock Tokens. This tokenised stock is to push the Robinhood crypto app to become an “all-in-one investment app” which supports crypto.
European customers will gain access to more than 200 US stock and ETF tokens. Stock token holders will also receive dividend payments directly in their app, and run on the new Robinhood Layer 2 blockchain network which is still in development. The blockchain network will also look to support the tokenisation of real-world assets.
“Crypto was built by engineers for engineers, and has not been accessible to most people,” said Johann Kerbrat, GM and SVP of Robinhood Crypto.
“We’re onboarding the world to crypto by making it as easy to use as possible—with the goal of bringing powerful tools into one intuitive platform.”
Keeping its US customer base in mind, Robinhood will launch crypto staking for eligible customers, starting with Ethereum and Solana tokens.
Customers will be able to gain access to reward rates by contributing to Robinhood Crypto’s network operations within various different blockchain networks. Crypto staking is also available to EU and EEA customers.
Robinhood’s expanded crypto product suite
As part of its wider European expansion, Robinhood will launch additional futures at the end of this summer, designed to help reduce complexities when it comes to trading perpetuals.
Robinhood perpetuals will come with a built in interface that enables setting position size and managing margin. Orders are routed through Bitstamp’s perpetual futures exchange.
Other product releases include an instant boost feature for crypto deposits, enabling EU investors to transfer crypto into a Robinhood account that earns them a 1% deposit boost. Robinhood also offers a gold credit card for US customers to earn cashback on purchases.
Robinhood will reveal more about its European product launches at the To Catch a Token event today which Payment Expert will cover and share insight from Tenev and Kerbrat, as well as Tanya Denisova, Senior Director and COO of Robinhood Crypto, and Seong Lee, Director of Product Management.
