Robinhood Markets (HOOD), the U.S. company known for its popular stock trading app, has launched new cryptocurrency services in Europe as it expands internationally.
Specifically, Robinhood is giving customers in Europe the ability to transfer crypto in and out of its app, broadening its product offerings to people on the continent.
In a blog post, the company said customers in the European Union (EU) can now deposit and withdraw more than 20 different cryptocurrencies on its platform, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
Robinhood said customers in European now have “self-custody” over digital assets held in cryptocurrency wallets on its platform and don’t need to rely on a third party.
The new feature comes less than a year after Robinhood launched its crypto trading service, called “Robinhood Crypto,” in the European Union. It allows users to buy and sell crypto.
Robinhood Markets is the latest American crypto firm to expand abroad as regulators crackdown on digital assets at home in the U.S.
The U.S. Securities and Exchange Commission (SEC) has sued several crypto firms, including exchanges Coinbase Global (COIN) and Binance, over claims that they’re dealing in unregistered securities.
In June of this year, Robinhood announced that it is acquiring Luxembourg-based crypto platform Bitstamp to further its global reach. The cash deal is valued at $200 million U.S.
The stock of Robinhood Markets has risen 140% over the last 12 months and currently trades at $23.42 U.S. per share.
