Robinhood Europe Launches Crypto Trading, Excludes XRP and Other Major Tokens From Transfers

• Robinhood Europe has expanded its offerings, launching crypto trading for European Union customers.
• The platform has excluded several major tokens from its transfer services.
• Despite these exclusions, Robinhood Europe has recently included XRP in its crypto listings.

Discover the latest development in European crypto trading as Robinhood Europe launches new features while excluding specific tokens.

Robinhood Europe Introduces Crypto Transfers for EU Users

On October 1st, Robinhood Crypto announced its latest initiative to provide European customers with the ability to deposit and withdraw over 20 different cryptocurrencies. This new feature not only allows for the handling of assets like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHIB), and USD Coin (USDC), but also aims to make self-custody and Decentralized Finance (DeFi) more accessible. Johann Kerbrat, VP and GM of Robinhood Crypto, emphasized the platform’s commitment to simplifying these processes for its users.

Exclusion of Certain Cryptos from Transfer Services

Although this new service is a significant step forward, it comes with certain limitations. Robinhood Europe has excluded 13 cryptocurrencies from its transfer services, including XRP, zkSync (ZK), Wormhole (W), Arbitrum (ARB), Cosmos (ATOM), Polkadot (DOT), EOS, Fantom (FTM), Jupiter (JUP), Near Protocol (NEAR), Optimism (OP), Celestia (TIA), and Toncoin (TON). This decision has raised eyebrows within the crypto community, particularly given the recent listing of XRP on the platform.

Special Feature: Earn 1% on Crypto Deposits

Robinhood Europe is also offering an attractive incentive for its customers. Users can earn a 1% yield on their crypto deposits, which will be paid in the same cryptocurrency that they have deposited. This feature not only offers a financial benefit but also reinforces the platform’s goal of giving users more control over their crypto holdings, ensuring a safe, low-cost, and reliable experience.

Controversial Exclusions and Community Reactions

The exclusion of specific tokens, especially XRP, from the transfer services has sparked significant discussion among crypto enthusiasts. With Ripple Labs’ ongoing legal battle with the U.S. SEC nearing its conclusion, many users were surprised by this development. However, it’s important to note that XRP was listed on Robinhood Europe’s platform in September, although the token is still awaiting listing approval in the United States. The recent addition of tokens like Uniswap, Stellar, and Tezos for New York residents suggests the platform’s evolving stance on token listings.

Conclusion

Robinhood Europe’s recent expansion into crypto transfers marks a promising development for EU customers, providing them with enhanced functionality and incentives. While the exclusion of some tokens has raised questions, the platform continues to adapt and grow, striving to offer a reliable and secure trading experience. As the crypto landscape evolves, Robinhood Europe’s initiatives reflect a dynamic and responsive approach to its user base.