The post Robinhood Launches Crypto Transfers in Europe, But Excludes XRP and Toncoin appeared first on Coinpedia Fintech News
Robinhood has officially launched crypto transfers for its European users, allowing them to deposit and withdraw over 20 cryptocurrencies. However, the platform has made waves by excluding several popular tokens, including Ripple’s XRP and Toncoin (TON), from this new service.
Robinhood Rolls Out Crypto Transfers
On October 1, Robinhood Crypto announced the expansion of its services in Europe, emphasizing its goal to simplify self-custody and enhance access to decentralized finance (DeFi). Users can now deposit and withdraw popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB), among others. Customers will also earn a 1% yield on their crypto deposits, paid in the same cryptocurrency they deposit, further enhancing their investment opportunities.
According to Johann Kerbrat, VP and GM of Robinhood Crypto, this move provides users with more control over their holdings while ensuring a secure and reliable experience, characteristic of Robinhood’s services.
Excluded Tokens Raise Eyebrows
Despite the exciting launch, the exclusion of 13 cryptocurrencies from the transfer service has raised eyebrows within the crypto community. The excluded tokens include XRP, zkSync (ZK), Wormhole (W), Arbitrum (ARB), Cosmos (ATOM), Polkadot (DOT), EOS, Fantom (FTM), Jupiter (JUP), Near Protocol (NEAR), Optimism (OP), Celestia (TIA), and Toncoin (TON).
This decision is particularly surprising, given that Robinhood recently listed XRP on its platform for EU users in September, following the resolution of Ripple Labs’ legal disputes with the SEC. The crypto community is left wondering about the future of XRP listings, especially in the United States, where the anticipation continues to build after Robinhood’s recent addition of Uniswap, Stellar, and Tezos for New York residents.
Get Ready to Transfer!
While, Robinhood is leveling up with its crypto transfer feature, at the same time the firm makes sure that users verify their identity and set up two-factor authentication first! After completing these steps, it may take up to 5 business days for approval. Operating through its Lithuania-based account, Robinhood ensures compliance and security for European customers eager to dive into crypto transfers.
