Taking an important step in the cryptocurrency market, Robinhood officially launched its crypto transfer service for its users in Europe. The platform introduces a new feature that will allow users to deposit and withdraw more than 20 cryptocurrencies. However, according to the announcement, some cryptocurrencies, especially Ripple’s XRP and TON coin, were excluded from this service.
Robinhood launches crypto transfers in Europe
Robinhood Crypto announced that it launched its cryptocurrency transfer service for users in Europe on October 1. This new service allows customers on the platform to deposit and withdraw popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHIB) and USD Coin (USDC). This development will allow Robinhood users in Europe to manage their crypto portfolios more effectively and store their crypto assets safely.
“With the launch of crypto transfers in Europe, we are making the process of storing their crypto assets and entering the world of decentralized finance (DeFi) simpler and more accessible for our customers,” said Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, in a statement. This announcement is considered a strategic step to further expand Robinhood’s user-friendly services.
1 percent earning opportunity
Within the scope of this new service, Robinhood offers its users the opportunity to earn 1 percent by depositing their crypto assets on the platform. This 1 percent that users earn on the cryptocurrency they deposit is paid out on the deposited asset itself. However, these rewards will be limited to a certain upper limit. This move by Robinhood stands out as a feature that encourages crypto users to keep their assets on the platform. This new service offered to users aims to provide more control over their crypto assets. It is stated that it aims to reflect the low-cost and reliable service approach offered by the platform to the crypto transfers of users in Europe.
XRP, TON coin and 10 other cryptos are excluded
Although this move by Robinhood was considered a positive development, it was noteworthy that some important cryptocurrencies were excluded from this service. XRP, zkSync (ZK), Wormhole (W), Arbitrum (ARB), Cosmos (ATOM), Polkadot (DOT), EOS, Fantom (FTM), Jupiter (JUP), Near Protocol (NEAR), Optimism (OP), A total of 13 cryptocurrencies, such as Celestia (TIA) and Toncoin (TON), were not included in this new transfer service.
The absence of XRP on this list caused surprise in the crypto community, especially despite the fact that the long-running legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has come to an end. Robinhood recently listed XRP for its users in Europe, but the exclusion of this token from transfer transactions was considered a significant surprise.
In addition, Robinhood’s listing of other major tokens such as Uniswap, Stellar, and Tezos for users in the US state of New York has increased speculation that XRP may also be listed in the US soon. This strengthens the expectation that XRP may become accessible to a wider range of users in the future.
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