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Robinhood Expands Global Reach with Commission-Free Crypto Trading App in Europe

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Dil Bar Irshad
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Robinhood Expands Global Reach with Commission-Free Crypto Trading App in Europe

Robinhood Markets Inc., the revolutionary trading platform, is extending its global footprint with the introduction of a commission-free cryptocurrency trading app in the European Union. This strategic move arrives hot on the heels of the company's recent expansion into the United Kingdom with its stock-broking services.

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Unleashing Crypto Trading in Europe

Starting Thursday, European investors will be equipped with a new tool for engaging in the dynamic world of cryptocurrency. This user-friendly app will facilitate the buying and selling of over 25 digital currencies, including market leaders like Bitcoin, Ether, and Solana's SOL. Johann Kerbrat, the General Manager of Robinhood Crypto, shed light on this development in a recent interview.

Robinhood's Global Ambitions

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The introduction of Robinhood's crypto trading platform in Europe is a clear indicator of the broader trend of financial technology firms extending their services worldwide. This global outreach is driven by a burgeoning interest in digital assets, a market Robinhood is keen to tap into. The company's entry into the European market underscores its ambition to emerge as a significant player in the international cryptocurrency trading arena, offering users a platform that negates trading commissions.

A Surge in Crypto Trading

In a related development, Robinhood has reported a substantial 75% increase in cryptocurrency trading volume in November compared to October. This surge, revealed in a recent filing with the U.S. Securities and Exchange Commission (SEC), hints at a revival of interest in cryptocurrency trading among Robinhood's users. The spike in trading volumes could signal a critical shift in the recent trend of reduced trading activity and revenue from digital assets on the platform.

Looking forward, Robinhood's plans include a retirement offering for the UK market and Robinhood Gold, a subscription-based service, both set to roll out in the coming weeks. The company's shares surged 7.4% to $11.31, reaching a peak since August 4. The renewed momentum in the crypto space, as reflected in Robinhood's trading volumes, appears to be driven by several factors, such as potential Bitcoin ETFs, the end of the Federal Reserve's rate hike cycle, and the perception of cryptocurrencies as an inflation hedge.

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