Robinhood Crypto announced its entry into Spain on 21 January 2025, enabling users in the country to access its trading, staking, and investing services.
This marks the company’s latest move to broaden its European presence, following the implementation of the EU’s Markets in Crypto-Assets (MiCA) regulations at the end of December 2024.
Robinhood’s expansion aligns with its previously announced strategy to grow in Europe, the UK, and Asia. “In terms of total addressable market, [the EU] is as big as the US,” Johann Kerbrat, general manager of Robinhood’s crypto unit, noted last year.
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Robinhood’s European Entry In 2023 Launched With Limited Features
The US-based trading platform first entered Europe in late 2023 but initially offered limited features, such as restricted access to crypto withdrawals.
By March 2024, Robinhood had rolled out brokerage services in the U.K., and in October, it introduced crypto transfer capabilities for European users, enabling deposits and withdrawals for around two dozen tokens.
This feature, described as one of the most requested in the region, was coupled with a limited-time offer of a 1% reward on the value of crypto deposits to attract new customers.
As part of its European strategy, Robinhood has been localizing its app for specific countries, including Italy, Poland, and Lithuania, providing local language support and passive income opportunities through staking.
“Our customers in Europe have been clear—they want an app that caters to their needs in their local language,” Kerbrat previously stated.
Buenos días, España https://t.co/iigoFlmfeN
— Robinhood (@RobinhoodApp) January 21, 2025
Robinhood’s ambitions extend beyond Europe. In July, the company announced plans to introduce cryptocurrency futures in both the US and Europe after completing a $200 million acquisition of Bitstamp.
Bitstamp, one of the oldest crypto exchanges, holds over 50 global licenses and registrations, including in the UK, Singapore, and the EU. The acquisition, expected to finalize in early 2025, will bolster Robinhood’s ability to offer regulated services across multiple regions.
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US-Based Exchanges Expand EU Operations
Robinhood’s European expansion comes as other U.S.-based platforms, such as Coinbase and Kraken, make similar moves to capitalize on the harmonized regulatory framework provided by MiCA.
Bernstein analysts suggest that Robinhood, often seen as a cautious platform in listing tokens and features, could benefit significantly from a more favorable regulatory environment under the pro-crypto Trump administration.
Notably, Robinhood recently made headlines by listing the “Official Trump” memecoin, launched last Friday, highlighting the platform’s willingness to diversify its offerings amid growing competition.
Last week, Robinhood agreed to pay a $45 million settlement to the US Securities and Exchange Commission (SEC) following allegations of violating over ten securities law provisions.
The settlement affects Robinhood’s broker-dealer subsidiaries, Robinhood Securities LLC and Robinhood Financial LLC. Per the statement, the SEC’s investigation found that the Robinhood entities failed to comply with a range of regulatory requirements.
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