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The cryptocurrency arm of the American financial services company Robinhood has released its end-of-the-year report for 2024, outlining its growth and expansion to new markets over the past 11 months.
Alongside the report release, Robinhood Crypto is celebrating the first anniversary of launching a digital asset trading division in Europe.
Robinhood Releases End of Year Report
According to the report, Robinhood Crypto recorded a notional trading volume of $119 billion and $38 billion in crypto assets under custody as of November 2024. The entity said 2024 was an important year for its business because of the milestones it achieved.
Robinhood Crypto expanded its services in the United States by achieving full coverage in 50 states and territories, including Hawaii, Puerto Rico, and the U.S. Virgin Islands. The company increased the number of available cryptocurrencies in the U.S. to 20 by adding new assets like Solana (SOL), Pepe (PEPE), and dogwifhat (WIF).
It also launched a new trading application programming interface for its U.S. users, offering tools to view market data, manage portfolios, and place advanced orders.
In Europe, Robinhood added 14 new coins for local customers, bringing the number of supported assets to 40. The firm also launched SOL and ether (ETH) staking for its European users.
Regulatory Challenges
Furthermore, Robinhood’s crypto wallet saw notable developments. The crypto firm launched the wallet on Android and introduced advanced swapping features across several Ethereum-based networks, including Arbitrum, Optimism, Polygon, and Base. The company also redesigned its token discovery tab, making it easier for users to find and manage their assets.
It is worth mentioning that Robinhood’s 2024 experience was not without challenges. The U.S. Securities and Exchange Commission (SEC) slapped the entity with a Wells Notice in May, indicating a threat of legal action over the firm’s securities law violations. While the SEC has yet to file the lawsuit, Robinhood’s crypto business has performed well for the year.
Johann Kerbrat, vice president and general manager of Robinhood Crypto, said:
“2024 marked a significant year for the cryptocurrency landscape and recent developments suggest that 2025 is poised to be an even more transformative year, with broader adoption anticipated across the industry.”