Robinhood (NASDAQ:HOOD) is broadening its crypto providers to attraction to superior, excessive-quantity merchants throughout Europe and the U.S.
What Occurred: Within the European Union, the platform has launched new perpetual futures pairs for XRP (CRYPTO: XRP), Solana (CRYPTO: SOL), Dogecoin (CRYPTO: DOGE) and Sui (CRYPTO: SUI), giving eligible merchants entry to as much as 7x leverage, The Block reported on Monday.
In the meantime, U.S. customers now have seven payment tiers as an alternative of three, with charges dropping as little as 0.03% for the very best-quantity merchants.
The corporate says these adjustments strengthen its place amongst skilled and crypto-native merchants, a bunch already rising on the platform over the previous yr.
Worth Motion: Robinhood Markets is buying and selling 2.3% increased at present.
Additionally Learn: Coinbase To Re-Enter Indian Market As COIN Battles Downtrend
Why It Issues: Robinhood’s pivot is paying off. In Q3, transaction income surged 129% yr-over-yr, helped by a greater than 300% soar in crypto buying and selling income.
Volatility occasions, together with October’s flash crash, have additionally pushed customers towards regulated platforms like Robinhood.
Extra updates embody enabling Ethereum (CRYPTO: ETH) and SOL staking for New York clients and permitting U.S. customers to manually regulate value foundation for crypto deposits beginning Dec. 22.
EU customers will quickly acquire entry to cash market funds through companions like J.P. Morgan, in addition to the power to commerce over 1,000 inventory tokens.
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