The trading platform recently reported a 75% increase in crypto trading volume for November. Robinhood made an important announcement for customers in the European Union on December 7. Accordingly, the exchange has launched its cryptocurrency trading platform, which provides access to more than 25 cryptocurrencies, including Bitcoin, Ethereum and Solana.
Giant stock exchange will give Bitcoin rewards!
Robinhood positions itself as a safe and regulated option for crypto customers to access the industry. It also offers to pay back a certain percentage of its customers’ trading volume in Bitcoin every month. Meanwhile, the company says it is also possible for users to earn referral bonuses in the leading cryptocurrency. Johann Kerbrat, Managing Director of Robinhood Crypto, suggests that crypto is the “financial framework of tomorrow.” He also notes that his company plays a crucial role in the effort to “democratize finance for everyone.” Therefore, the Bitcoin prize launch represents a significant moment for the emerging industry. In the midst of this development, Kerbrat adds the following to his statements:
The launch is a way to lower barriers to entry for millions of people. The EU has developed one of the world’s most comprehensive policies for crypto asset regulation. That’s why we chose the region to support Robinhood Crypto’s international expansion plans.
Robinhood made the move simultaneously with the rise of the market!
By the way, this move is quite important for Robinhood’s global expansion strategy. It also marks another step in the commitment to democratize finance. The firm introduced share broking services in the UK last week. Moreover, the timing of this launch is in line with the current bullish sentiment in the crypto market. The Bitcoin price recently reached its highest point in nearly two years as optimism continued regarding the approval of a spot exchange-traded fund (ETF) in the United States. Besides, BTC continues to show strength.
As you follow from Kriptokoin.com, other cryptocurrencies, including Ethereum, showed a similar price performance during this period. These price increases have significantly impacted Robinhood’s trading activities. The platform reported a significant 75% increase in cryptocurrency trading volume in November compared to October. This development marks a reversal for Robinhood, which has seen a decline in crypto trading activity for most of the year. In this regard, the firm’s third quarter filing revealed a 55% decline in Bitcoin and altcoin nominal volumes.
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