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30 May 2024
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Just-In: Robinhood Launches Solana (SOL) Staking Services In EU

Robinhood, a leading platform for both crypto and stock trading, has ignited excitement in the crypto sphere with its latest move – the launch of crypto staking services in Europe. This development allows users of the Robinhood app to stake their Solana (SOL) holdings directly. Besides, this move also reflects a significant step towards enhancing accessibility and user experience in the European crypto market.

Robinhood Unlocks Staking Opportunities in Europe

Robinhood’s announcement of introducing staking services for Solana (SOL) in Europe marks a milestone in the platform’s evolution. This move empowers Robinhood Crypto customers to leverage their SOL holdings to earn rewards directly through the app, providing them with greater flexibility and control over their investment strategies.

According to Johann Kerbrat, VP and GM of Robinhood Crypto, this initiative stems from the feedback of European customers. Notably, the customer has expressed a desire for localized language support and opportunities to earn passive income. 

Considering that, the platform is also launching Robinhood applications in the local language. Meanwhile, by rolling out staking services and other tailored features, Robinhood aims to cater to the specific needs of its European user base, reinforcing its commitment to providing a seamless and enriching financial journey.

In addition, Robinhood’s decision to introduce staking services for Solana (SOL) in Europe underscores its dedication to expanding its offerings and enhancing the accessibility of cryptocurrency investment opportunities. 

Also Read: Bitcoin ETF Sees $100M Influx Signaling Positive Road Ahead

What’s Next?

As the platform continues to evolve, it remains poised to play a pivotal role in shaping the landscape of crypto trading, fostering innovation, and empowering users to achieve their financial goals. In addition, Robinhood’s announcement notes that new customers can earn a 10% bonus on their buying amount for the first 30 days.

Notably, according to the announcement, the bonus will be paid to the new customers in USDC. Robinhood said that this initiative is part of the firm’s strategy to increase crypto adoption and attract new users.

However, despite the positive news from Robinhood, the Solana price slipped 1.71% and traded at $143.69, while its trading volume rose 4.17% to $2.33 billion. Notably, the broader market has witnessed muted trading today, as investors seem to be taking a break ahead of the much anticipated U.S. CPI data.

Also Read: Canada Banking Giants Pour Millions Into Bitcoin ETF Amid Inflow Resurgence

The post Just-In: Robinhood Launches Solana (SOL) Staking Services In EU appeared first on CoinGape.

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