Robinhood Expands To EU with Tokenized Stocks Offering

Robinhood, a leading financial company, has recently announced that its European users can now trade U.S.-listed stocks and exchange-traded funds (ETFs) as tokens on the Arbitrum blockchain. Soon, users will also be able to access crypto perpetual futures with up to 3x leverage on its trading platform. These updates are part of Robinhood’s goal to integrate traditional finance with blockchain technology on a single platform. Robinhood Stocks Goes On-Chain to Reduce Trading Fees To support its growing list of features, Robinhood is developing its Ethereum-compatible layer-2 network. This custom blockchain will help bring real-world assets, such as stocks and ETFs, on-chain, making them easier and cheaper to access. The goal is to eliminate middlemen who make international trading more expensive for everyday users. The move is beneficial for European investors who often face high fees when buying U.S. assets. This new development is set to change that. Robinhood’s new system follows the company’s usual no-commission model, with only a small foreign exchange fee of 0.1%. Robinhood To Roll Out Crypto Perpetual Futures and More Robinhood is also planning to introduce crypto perpetual futures to its European platform. These are contracts that do not expire, allowing users to make trades with higher risk and potential reward. As announced, orders will be processed through Bitstamp, a crypto exchange Robinhood recently bought in a $200 million deal. This new feature aims to attract more experienced crypto traders who want more control over their strategies and returns. Robinhood also announced several upcoming features designed to attract crypto users. These include a new credit card that offers cryptocurrency rewards, a temporary 1% bonus on cryptocurrency deposits, and enhanced tax planning tools for digital assets. These tools are designed to help users make informed decisions when buying or selling cryptocurrency, particularly regarding tax responsibilities. Additionally, Robinhood announced that it will soon enable users to store tokenized stocks and ETFs in their wallets, giving them complete control over their investments. Robinhood Goes Big on Crypto in Europe and the U.S. Robinhood’s crypto services were once limited to just a few European countries. However, the company has recently obtained a Markets in Crypto Assets (MiCA) license, enabling it to serve customers in over 30 countries in the region. This expansion increases Robinhood’s reach and aligns it with other major players, such as Coinbase, which also recently secured a MiCA license . Robinhood is also expanding its crypto services in the U.S. Users can now stake Ethereum and Solana to earn rewards in eligible jurisdictions, as legal issues surrounding staking have been resolved . The post Robinhood Expands To EU with Tokenized Stocks Offering appeared first on TheCoinrise.com .

Source: The Coin Rise