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21 May 2024
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Ethereum

Robinhood Launches Solana (SOL) Staking in Europe

US-based financial services firm Robinhood has announced the launch of Solana (SOL) staking in Europe. Moreover, the company’s trading application is also set to integrate brand-new customer rewards for European users who are new to the platform.

Both the Solana staking and rewards programs are set to go hand-in-hand with the application. Indeed, the company states that users can now “stake their Solana holdings directly through the app,” with increased flexibility, according to a press release.

Also Read: Robinhood Reports $26B In Crypto Under Custody in Q1 2024

Robinhood Introduces Solana Staking for European Customers

Source: Bitcoin.com

Throughout this year, Solana has been one of the cryptocurrencies to watch. Indeed, the asset has undergone an increase of more than 600% over the last year, according to CoinMarketCap. Now, one of the most prominent trading applications is set to integrate new staking for the asset.

Specifically, Robinhood has announced that the platform is launching Solana (SOL) staking in Europe. Moreover, the rollout of the feature will debut alongside brand-new customer rewards for new users. Indeed, the company noted the new launch will seek to “increase accessibility, improve the user experience, and reinforce our commitment to Europe-based crypto traders.”

Also Read: Solana Price: How Will May Fare For SOL?

Johann Kerbrat, vice president and general manager of Robinhood Crypto, discussed the new features. Specifically, he described it as a way for European users to “earn additional passive income” through the application.

The integration is Robinhood’s first-ever crypto-staking product, according to the press release. Moreover, customers will be able to stake their Solana (SOL) directly through the applications. Additionally, they will be able to earn rewards and unstake at any time they so choose.

Conversely, the announcement has arrived with a 5% surge in SOL’s value over the last 24 hours. Indeed, it currently is trading at $152, with its market cap also increasing by more than 5% in that same time frame.

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