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Robinhood now offers Ethereum staking in Europe, building on its May launch of Solana staking.Customers can earn rewards while contributing to blockchain security.The cryptocurrency division of the US-based brokerage firm Robinhood has broadened its services by introducing Ethereum ETH $3 330 24h volatility: 4.3% Market cap: $400.36 B Vol. 24h: $57.13 B staking for customers across Europe.
On Tuesday, November 26, the company announced that European users can now stake their Ether to earn additional income. To attract participants, Robinhood Crypto is offering a promotional 100% match on staking rewards for up to €10,000 per customer. Although the company warned it will last for a limited time only.
Robinhood to Compete with Binance and Kraken
With the launch of the new offering, Robinhood has joined the likes of Binance and Kraken in providing staking services in Europe. The company initially entered the staking space in May with Solana SOL $227.9 24h volatility: 9.5% Market cap: $107.75 B Vol. 24h: $10.14 B staking services, allowing users to earn yields of up to 5% on their staked assets.
Robinhood Crypto said that traders in Europe can now stake both SOL and ETH directly through its app. Stakers earn passive rewards for locking up their tokens to help validate network transactions and ensure network security. This process not only secures the blockchain but also prevents malicious activity.
However, staking rewards can fluctuate based on factors like network inflation, the amount of cryptocurrencies staked, validators’ commission rates, and overall market conditions.
Johann Kerbrat, the general manager and vice president of Robinhood Crypto, said that digital asset staking has been a highly demanded offering in Europe.
“Robinhood’s platform is built with our customers at the center. Staking has been a highly requested feature but can also be intimidating to newcomers to crypto. We’ve simplified the staking process to ensure users can contribute to the security of the ETH network while also earning rewards efficiently,” said Kerbrat.
Strengthening European Engagement
Robinhood has been tailoring its platform to meet the needs of European users. When the company launched its first crypto staking services in May, it was accompanied by the introduction of localized versions of its app for users in Italy, Poland, and Lithuania.
The move aimed to improve accessibility and navigation. Kerbrat said at the time that “customers in Europe have told us loud and clear that they want an app that provides local language support and products that help them earn additional passive income.”
Additionally, the firm expanded its educational resources, offering content focused on Bitcoin BTC $92 501 24h volatility: 5.8% Market cap: $1.83 T Vol. 24h: $126.16 B , USD Coin USDC $1.00 24h volatility: 0.1% Market cap: $38.75 B Vol. 24h: $11.91 B , and Avalanche AVAX $40.35 24h volatility: 11.6% Market cap: $16.18 B Vol. 24h: $1.85 B to improve users’ knowledge of cryptocurrencies.
Meanwhile, Robinhood’s increased focus on Europe coincides with mounting regulatory pressure in the United States. In May, the company received a Wells Notice from the Securities and Exchange Commission (SEC), signaling potential enforcement action.
According to the filing, the SEC’s investigation centered on Robinhood’s crypto listings and custodian services, citing potential securities violations. The company had already stayed away from offering certain services in the region such as crypto staking due to regulatory uncertainty.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
