- Robinhood Crypto has released a new update.
- The update is available exclusively to the company’s customers in Europe.
- This update follows the Wells notice from the US SEC.
Robinhood Crypto has prepared a series of new in-app features tailored for European customers, including cryptocurrency staking capabilities.
The company’s latest initiative can be seen as a move to shift its focus to Europe as the US market is fraught with uncertainty. This comes after the U.S. Securities and Exchange Commission (SEC) issued Robinhood Crypto with a Wells Notice on May 4, signaling upcoming enforcement actions.
Robinhood Crypto Shifts Focus to Europe
In a May 15 press release, Robinhood Crypto announced new staking, localized apps, and cryptocurrency rewards features. The goal of the update is to increase accessibility, improve user experience, and strengthen “the company’s commitment to European-based cryptocurrency traders.”
“Starting today, we’re introducing our first-ever crypto-staking product, which will be available exclusively to our customers in Europe. Robinhood Crypto customers can now stake their Solana (SOL) holdings directly through the app, allowing them to earn rewards with the flexibility to unstake at any time,” the statement read.
To encourage “trust and comfort” among customers when trading and researching cryptocurrencies, the company said it will launch local language versions of the Robinhood Crypto app “in the coming weeks,” starting with users in Italy, Poland, and Lithuania.
Additionally, Robinhood Crypto launched its “Learn & Earn” suite of modules focused on BTC, AVAX, and USDC. This module promotes crypto education while allowing customers to earn rewards “along the way.”
According to the statement, the learning modules will soon be available in multiple languages, including Polish, Italian and Lithuanian.
Read about the launch of Robinhood Crypto Wallet on Android.
Robinhood cryptocurrency wallet debuts on Android platform
Stay updated on Robinhood’s recent massive Dogecoin leak:
Robinhood saw massive Dogecoin outflows following the Wells announcement.