Robinhood Expands: EU Crypto Entry & UK Brokerage Plans Unveiled
Robinhood, known for its user-friendly trading platform, is set to expand its services by launching cryptocurrency trading in the EU and establishing brokerage operations in the UK.
The company plans to start brokerage operations in the UK and then move on to introducing crypto trading in the EU after the UK launch.
Amidst new regulations prompting some crypto firms to stop serving UK customers, Robinhood disclosed a 55% decrease in third-quarter crypto-related revenue, which amounted to $23 million compared to the previous year’s corresponding quarter.
Earlier, in June, Robinhood suspended support for certain tokens involved in legal actions against major crypto exchanges.
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These tokens included Cardano (ADA), Polygon (MATIC), and Solana (SOL) within SEC lawsuits directed at Binance and Coinbase.
The platform currently allows trading for 15 different cryptocurrencies, including popular options such as Bitcoin (BTC), ether (ETH), dogecoin (DOGE), and avalanche (AVAX).
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
