Trading platform Robinhood Markets has rolled out tokens for U.S. stocks and ETFs in the EU region Monday, as the company now expands its crypto arm with new services on offer, according to a media statement.
Multiple features are expected to be rolled out, including a layer-2 blockchain, crypto perpetual trading, and crypto staking. A portion of these updates will be focused on the U.S. region as well.
As per the official press release, Robinhood will be giving its EU customer base access to U.S. investment options with over 200 stock tokens to choose from.
The company’s announcement coincides with the return of Robinhood’s crypto GM, Johann Kerbrat, to his hometown of Cannes, according to CNBC—where the company unveiled its new features as part of a corporate event titled ‘Robinhood Presents: To Catch a Token’.
“Crypto was built by engineers for engineers, and has not been accessible to most people,” said Johann Kerbrat. “We’re onboarding the world to crypto by making it as easy to use as possible—with the goal of bringing powerful tools into one intuitive platform.”
Crypto perpetuals and staking services
As part of the upgrade, Robinhood Markets will be offering crypto perpetual trading with up to 3x leverage for customers. Crypto staking for Ethereum and Solana will be available as well to E.U. and U.S. customers.
The new expansion in the crypto suite includes services such as boosted deposits, credit card rewards, advanced charts, smart exchange routing, Tax Lots, and AI assistant capabilities.
Source: Google Finance
Robinhood shares traded upward by 12.77% on Tuesday, the day after the announcement. The share price was $93.63 at the time of reporting. Robinhood’s stock performance on a YTD basis has been positive, with a price growth of 137.4%.