Robinhood Launches Crypto Transfers for EU Customers Amid New MiCA Regulations

Robinhood has just rolled out crypto transfers for its customers in the European Union. This is a big step for the trading app, which launched in the EU back in December. More and more U.S. exchanges are looking to expand into this trading bloc.

Now, EU customers can transfer over 20 cryptocurrencies. This includes popular options like bitcoin (BTC), ether (ETH), solana (SOL), and USD Coin (USDC). It's a convenient feature that many users will appreciate.

This move comes as the EU implements its new crypto regulations known as Markets in Crypto Assets (MiCA). These rules are designed to provide a clearer framework for cryptocurrency operations in the region.

“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers,” said Johann Kerbrat, VP and general manager of Robinhood Crypto. “Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.”

This new capability comes about ten months after Robinhood started allowing EU customers to trade crypto. The company recognizes that the region has some of the most comprehensive policies for crypto asset regulation.

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

Many U.S.-based crypto exchanges are ramping up their efforts in Europe following the introduction of MiCA. Coinbase (COIN), the largest U.S. exchange, announced plans in January to offer derivatives in the EU. Meanwhile, Kraken has recently acquired a German crypto service provider to strengthen its presence in the region.