Robinhood (Nasdaq: HOOD) executed its expansion plans by launching crypto trading services in the European Union, the American brokerage announced today (Thursday). Like US users, Europen customers of the platform will be able to trade over 25 crypto trading pairs.
The platform is offering crypto services in the EU under Lithuania-registered Robinhood Europe, UAB, which is licensed by the Bank of Lithuania as a virtual currency exchange and virtual currency depository wallet operator.
While the existing offerings are limited to crypto trading, Robinhood Crypto plans to expand next year, adding more tokens, crypto transfers, and staking.
The retail commission-free broker first unveiled its European expansion plans last month. It also has plans for launching brokerage services in the United Kingdom. However, whether it would offer crypto trading on the island across the English channel is unclear.
“We believe crypto is the financial framework for tomorrow and that it plays a significant role in our mission to democratize finance for all,” said Johann Kerbrat, GM of Robinhood Crypto, in an official blog post.
“The EU has developed one of the world’s most comprehensive policies for crypto asset regulation, which is why we chose the region to anchor Robinhood Crypto’s international expansion plans.”
Demand for Crypto Trading Skyrockets
The platform expanded its crypto trading services outside the US when demand for the asset class was skyrocketing. Bitcoin
