Robinhood Launches Ethereum Staking Service in Europe
Popular trading app Robinhood (HOOD) has launched a staking service in Europe that allows users to earn passive income on their Ethereum (ETH) assets. Users can generate returns by holding their Ethereum assets on the platform. This move is part of Robinhood's strategy to expand its cryptocurrency services in the European market.
As part of a bonus program set for new users, Robinhood offers a 100% match on staked earnings. However, this offer is limited to €10,000 per customer. Users will earn passive rewards by participating in network transactions and securing network operations through Ethereum staking. These rewards can vary based on the amount of ETH in the network, validator commission rates, and market conditions.
Robinhood Continues to Expand Crypto Services Earlier this year, Robinhood began expanding its crypto services in Europe by offering Solana (SOL) staking. SOL staking provides users with a 5% return, while competitors Kraken and Binance can offer up to 8%. Robinhood Crypto Vice President Johann Kerbrat stated that the platform is user-centric and that the staking process is simplified, allowing users to contribute to the security of the Ethereum network.
In October, Robinhood Crypto launched a new feature that allows European customers to transfer approximately 20 different cryptocurrencies, including Bitcoin and Ether. The company, which entered the European crypto market at the end of 2023, initially allowed only cryptocurrency trading on its platform. This expansion facilitates users' access to decentralized finance (DeFi) and provides them with greater control over their crypto assets.
Attractive Opportunities for Investors With its Ethereum staking service, Robinhood creates an appealing investment option by offering investors the chance to maximize their earnings. The service enables users to grow their crypto investments while supporting Blockchain networks like Ethereum and Solana. Additionally, Robinhood has expanded its crypto asset services for U.S. users, including Solana, Pepe, Cardano, and XRP.
Beyond these developments, Robinhood continues to expand its crypto services in Europe. The platform currently offers a total of 19 different cryptocurrencies to its users and has recorded steady growth this year. Although no official announcement has been made yet, it is reported that the company plans to launch a stable cryptocurrency. Experts believe this step will increase the company's service diversity and provide users with more investment options.