Robinhood introduces the cryptocurrency transfer feature for European users, allowing for greater control over their digital assets.
On October 1, Robinhood announced the launch of a new feature that allows European users to transfer cryptocurrencies to external wallets. The application, which was launched last December in Europe, will now enable users to deposit and withdraw Bitcoin and other cryptocurrencies.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, emphasized that the update will facilitate users’ entry into the practice of self-custody, ensuring greater control over their funds while maintaining a secure and user-friendly experience.
In an interview with CNBC, Kerbrat stated:
“The EU can become a very attractive market next year… In terms of total addressable market, [the EU] is as big as the U.S. It’s definitely an interesting market for us.”
Kerbrat clarified that Robinhood stores the majority of assets in cold storage, provides crime insurance, and implements stringent measures to protect against theft and cyber threats.
Last June, the U.S. company acquired the exchange Bitstamp for $200 million.
