Robinhood Adds Crypto Transfers in Europe
Robinhood now allows European users to deposit and withdraw cryptocurrencies, expanding its services beyond basic trading options.
Robinhood has introduced crypto transfers in Europe, allowing users to deposit and withdraw digital assets, a significant expansion of its cryptocurrency services outside the U.S. Previously, European customers were limited to trading only within the platform, unable to move assets to external exchanges or wallets.
According to a press release, this update, available from October 1, enables users to transfer around 20 cryptocurrencies, including major assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and USD Coin (USDC). The feature has been described as one of the "most requested" by European users.
The new transfer option gives users more flexibility and control over their investments, making it possible to move assets between Robinhood and external wallets like Metamask or exchanges such as Binance. This shift aligns with a broader trend towards self-custody, where users prefer keeping their digital assets in personal wallets rather than on centralized platforms.
Before this update, Robinhood's European customers could only buy and sell crypto within its app. The lack of transfer functionality had been a significant drawback, especially for those wanting more comprehensive options. Now, users can send or receive assets, enhancing the platform’s appeal and functionality.
Johann Kerbrat, VP and general manager of Robinhood Crypto, highlighted that this launch makes it easier for users to enter decentralized finance (DeFi). The move also reflects Robinhood’s commitment to giving users greater control, while maintaining a safe, low-cost, and reliable service.
With this new feature, Robinhood is stepping up to meet the expectations of European customers by offering more than just basic trading services. This change is part of a broader strategy to expand its user base and provide more diverse options, especially at a time when self-custody is gaining momentum among crypto holders.
Overall, the introduction of crypto transfers represents a major milestone for Robinhood’s growth in Europe, marking a shift from a limited trading platform to a more versatile tool for managing digital assets.
