Robinhood Crypto Introduces Staking in Europe

After half a year since its launch in the EU​, Robinhood Crypto, the crypto arm of the US-based stock trading company Robinhood, announced that it has introduced a series of new features in the region designed specifically for EU customers, including crypto staking, localized apps, crypto rewards for new clients, and educational resources, etc.

According to Robinhood Crypto, its users can now stake their Solana (SOL) holdings directly through the app to earn awards. Additionally, the online trader will also roll out local language versions of the Robinhood Crypto app in the coming weeks, starting with Italy, Poland, and Lithuania, with plans for expansion into additional countries and regions.

Johann Kerbrat, VP and GM of Robinhood Crypto, stated: “Since launching at the end of last year, 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...Today’s news is a significant step forward in our mission to offer customers a more tailored in-app experience that meets their specific needs and helps them on their financial journey.”

The crypto business has played a significant role in Robinhood's financial performance. In the first quarter of 2024​, Robinhood reported a staggering 232% year-on-year increase in revenue from its crypto trading business, reaching $126 million. This growth in revenue has been the primary driver behind the company's overall 59% year-on-year increase in transaction-based revenues.

Furthermore, Robinhood has recently launched its self-custody web3 wallet, Robinhood Wallet, which is now available to iOS users worldwide. This expansion of its global crypto coverage community demonstrates Robinhood's commitment to furthering its presence in the crypto space.