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Europe Emerges as Crypto Hub: Robinhood Debuts Staking, Interactive Brokers Launches Bitcoin Trading

Robinhood and Interactive Brokers are both launching new crypto trading services in Europe

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Europe might be becoming a hotbed for crypto activity, with more crypto firms launching their products in the continent.

Trading platform Robinhood has chosen Europe to debut its first crypto-staking product as well as a new suite of features for the region.

"Starting today, we’re introducing our first-ever crypto-staking product, which will be available exclusively to our customers in Europe," the firm said.

Customers are now able to stake their Solana holdings directly through the Robinhood app, which will enable them to earn rewards. New customers can earn a 10% bonus, paid in USDC, on their net buys in their first 30 days on the platform too.

"Today’s news is a significant step forward in our mission to offer customers a more tailored in-app experience that meets their specific needs and helps them on their financial journey,” said Johann Kerbrat, VP and GM of Robinhood Crypto.

The platform will also launch local language versions of its crypto app, beginning in Italy, Poland, and Lithuania.

“Since launching at the end of last year, our customers in Europe have made it clear they want an app that supports local languages and offers products to earn passive income,” Kerbrat said.

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Meanwhile, Interactive Brokers is launching crypto trading for its UK clients. Both individual and institutional investor clients are now able to trade crypto assets including Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Clients can view and transact their crypto through the same platform they would for stocks, options, futures etc.

"Interactive Brokers offers a wide selection of global investment products, sophisticated technology and competitive pricing," said Gerald Perez, Chief Executive Officer at Interactive Brokers UK.

"Introducing cryptocurrency trading gives UK clients enhanced flexibility to invest across markets and asset classes while also adding exposure to digital assets.”

The cryptocurrencies on the platform are denominated in USD but clients can convert GBP to USD with spreads as low as 1/10 of a PIP.

Interactive Brokers' commissions on crypto trading in the UK are 0.12% - 0.18% of trade value, depending on monthly volume. USD 1.75 is the minimum order.

The US firm first offered cryptocurrency trading in September 2021, launching with its partner, Paxos.