As a seasoned researcher with a keen eye for the latest developments in the cryptocurrency market, I find Robinhood’s recent addition of Stellar (XLM) and Solana (SOL) transfers to their platform quite intriguing. Having closely observed Robinhood’s journey from its initial foray into EU markets last year to its recent decision to allow users to self-custody their assets, it’s clear that the platform is steadily moving towards becoming a comprehensive cryptocurrency service provider.
The well-known trading application, Robinhood, has incorporated the ability to facilitate Stellar (XLM) transactions. As shared via a tweet from Robinhood Crypto EU, the platform now allows for XLM transfer support.
With this change, users are now able to both withdraw and deposit Stellar Lumens (XLM). In honor of this new feature, Robinhood is providing a temporary 1% deposit bonus for users who transfer their digital asset onto the platform.
Robinhood’s cryptocurrency platform now facilitates transactions using Stellar Lumens (XLM).
— Robinhood Crypto EU (@RobinhoodCrypto) October 23, 2024
In late 2020, Robinhood introduced its cryptocurrency trading service, known as Robinhood Crypto, across the European Union. This feature enabled users to purchase and sell various digital currencies directly on the platform, but it did not allow for the transfer of these cryptocurrencies elsewhere – be it to another external platform or a personal wallet for secure storage.
Users are able to transact, exchange, and store various cryptocurrencies like Aave, Cardano, Arbitrum, Cosmos, Avalanche, Bitcoin Cash, Bonk, Bitcoin, Compound, Dogecoin, Polkadot, EOS, Ethereum Classic, Ethereum, Fantom, The Graph, Immutable, Jupiter, Chainlink, Litecoin, Decentraland, Polygon, Near, Optimism, Pepe, Render, Sandbox, Shiba Inu, Solana, Celestia, Toncoin, Uniswap, USDC, Dogwifhat, Stellar Lumens, Wormhole, Tezos, XRP, zkSync, and LayerZero on the Robinhood crypto trading platform.
Starting from October’s first week, Robinhood informed that they will enable their European clients to transfer cryptocurrencies in and out of their application. Essentially, this update gives Robinhood’s European users the freedom to personally manage their digital assets, a feature known as “self-custody.
Other Robinhood news
Apart from Stellar, Robinhood users now have the option to move Solana (SOL) as well, effective this week. This means they can both withdraw and deposit SOL on the app. An extra perk is that there’s a 1% deposit bonus being offered, which will last until November 30th.
By September, Robinhood disclosed that users in New York State could now trade Uniswap (UNI), Stellar (XLM), and Tezos (XTZ). This expansion increased the number of tradable assets in New York State to a total of 14.
Robinhood is considering expanding its services to incorporate futures trading and index options, aiming to appeal to a more experienced user base on their platform.
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2024-10-23 16:14