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Robinhood Crypto has confirmed plans to introduce Solana (SOL) taking for its users in Europe.
🚨 Announcing a few new updates to Robinhood Crypto 🚨
— Robinhood Crypto EU (@RobinhoodCrypto) May 15, 2024
First, Solana ($SOL) #staking is now live for eligible European customers 🎉 This allows customers to earn staking rewards on their $SOL holdings with the flexibility to unstake at any time.https://t.co/yioQfCHT2n
/1 pic.twitter.com/J6cH0PMDC6
Digital investors will enjoy around 5% APY, whereas new customers can receive a 10% reward on all purchases completed on the platform over the initial 30 days.
Users can stake their SOL assets via the Robinhood app to earn prizes. Moreover, they can un-stake their tokens anytime with no restrictions.
The trading platform will pay bonuses in USD Coin (USDC) stablecoins.
Crypto demand in Europe
Johann Kerbrat of Robinhood Crypto commented on the surging demand for crypto offerings in Europe.
Meanwhile, Solana has emerged as among the most popular digital tokens for app users in the European region.
European users have requested a trading application offering support in the local language and with more passive income opportunities.
The investment firm has followed user feedback since launching the European arm in December 2023.
Robinhood Launches Crypto Trading in EU, Aims for Global Accessibility
— @Valdeli Oliveira (@ValdeliOli117) December 9, 2023
Financial services firm Robinhood has announced the launch of crypto trading in the European Union. “Like we did with the stock market, it’s our goal to make crypto more accessible and affordable to everyone pic.twitter.com/ZD2C0PaTMA
Further, Robinhood Crypto plans to introduce local versions of the trading app to address user demand.
The localized option will serve customers in Lithuania, Poland, and Italy, underscoring the surging popularity of the investment application in these regions.
While the European branch embraces Solana, Robinhood US delisted SOL alongside Cardano and Polygon in 2023, citing strict regulations in the United States.
SOL price outlook
The altcoin traded with a downside stance during this publication, down 1.24% over the past day to hover at $144.29.
Meanwhile, the crypto market remained somewhat muted as market players contemplated the highly awaited US CP numbers.
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