Robinhood Launches Crypto Transfer Feature for EU Customers, Aligning with New MiCA Regulations

Robinhood has rolled out a new feature for its customers in the European Union. Now, they can transfer cryptocurrencies in and out of the app. This move comes as the trading platform launched its services in the EU back in December.

With this update, Robinhood (HOOD) users in the EU can transfer over 20 cryptocurrencies. That includes popular options like bitcoin (BTC), ether (ETH), solana (SOL), and USD Coin (USDC).

This expansion aligns with the new crypto regulations in the EU, known as Markets in Crypto Assets (MiCA). These rules are designed to provide a clearer framework for crypto trading.

Johann Kerbrat, the VP and general manager of Robinhood Crypto, shared his thoughts: “With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers.” He emphasized that customers now have more control over their crypto while enjoying the same safe and reliable experience they expect from Robinhood.

This feature comes about ten months after Robinhood first allowed EU customers to trade cryptocurrencies. The company recognizes the EU's strong regulatory framework for crypto assets.

In March, Robinhood also completed its rollout of brokerage services in the U.K. They began onboarding customers there a year ago, after an earlier attempt was disrupted by the Covid pandemic.

Many U.S.-based crypto exchanges are now focusing on Europe, especially with MiCA coming into effect. For instance, Coinbase (COIN), the largest U.S. exchange, announced plans in January to offer derivatives in the EU. Meanwhile, Kraken recently acquired a German crypto service provider to expand its reach in the region.