Robinhood Markets on Thursday launched a new commission-free crypto trading app for customers in the European Union as it makes a renewed push to expand its business outside the U.S.
The E.U. launch comes just a week after the California company outlined plans to launch a new, commission-free stock trading app in the U.K.
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Robinhood’s new app will let customers in the E.U. trade at least 25 different cryptocurrencies, including coins that have been delisted from Robinhood’s U.S. app.
Robinhood previously delisted Solana, Polygon, and Cardano from its platforms in June after the Securities and Exchange Commission filed lawsuits against Coinbase
The delistings mean customers in the U.S. are now able to trade just 15 different cryptocurrencies on Robinhood’s platforms, including bitcoin, Dogecoin and Ethereum, compared to the 25+ that will be available to customers in the EU.
Robinhood’s EU crypto app launch comes amid a recent crypto market rally that has seen the price of bitcoin
In November, Robinhood reported a surge in crypto trading on its platforms that saw users buy and sell $2.3 billion worth of cryptocurrencies in October, marking a 92% increase compared to the previous month.
First launched in 2013, Robinhood became a household name at the start of the pandemic as retail investors flocked to its share trading platforms amid the 2020 stock market crash.
The commission-free trading company subsequently played a core part in the meme-stock phenomenon before it shut down trading of GameStop stock during a short-squeeze on the company in January 2021.
In its most recent third-quarter results, Robinhood posted a 29% uptick in revenues to $467 million, in an uptick that reduced its net losses by 55% to $85 million.