Robinhood Crypto has added support for Solana cryptocurrency transfers for users within the European Union, according to an announcement.
The platform announced on October 21 that customers in the EU can now send Solana (SOL) and earn a 1% deposit bonus. Notably, the SOL transfer on Robinhood Crypto comes weeks after the company rolled out crypto transfers for customers in Europe.
This feature allows customers to deposit and withdraw over 20 different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and USDC (USDC). All deposits receive a 1% bonus. This offer is valid until November 30, 2024.
Robinhood expands EU footprint
Robinhood Crypto Transfer adds to the platform's product offering, which includes purchasing and trading over 35 crypto assets. Customers can also stake SOL directly from within the app and earn an annual yield of 5.23%.
Staking functionality is one of the key developments that Robinhood Crypto announced in May 2024.
Apart from allowing cryptocurrency holders to stake their tokens, the platform also revealed plans for a localized app and cryptocurrency rewards. We have also updated our learning and acquisition modules with the aim of expanding our presence across Europe. This targeted milestones such as greater accessibility, improved user experience, and regulatory compliance.
Launched in December 2023, Robinhood Crypto EU witnessed a significant spike in trading volumes. This includes memecoin Dogwifat (WIF), whose price soared after being listed on the trading app.
Meanwhile, most users continue to hold and trade Bitcoin, and the platform added support for its Spot BTC ETF one day after U.S. stock exchanges approved it in January 2024.
In terms of overall usage, Robinhood Crypto has the most users in Poland, Italy, and Lithuania. Notably, the SEC issued a Notice of Wells against Robinhood Crypto in May.
