Robinhood Launches Crypto Transfers in Europe, But Why Was XRP & TON Excluded?
Qadir AK1 Oct 20242 min read
Robinhood’s latest move has got the crypto community talking. The popular trading platform has just rolled out a new feature allowing European users to seamlessly deposit and withdraw over 20 different cryptocurrencies. But this expansion has come with a twist: several high-profile tokens, including XRP and TON, have been mysteriously left off the list.
This exclusion has sparked speculation and debate among crypto enthusiasts, raising questions about Robinhood’s motives and the future of these tokens on the platform.
Robinhood Rolls Out Crypto Transfers
On October 1, Robinhood Crypto announced the expansion of its services in Europe, emphasizing its commitment to simplifying self-custody and enhancing access to decentralized finance (DeFi). Users can now deposit and withdraw well-known cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB), among others. Additionally, customers will 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 initiative allows users greater control over their holdings while ensuring a secure and reliable experience, a hallmark of Robinhood’s services.
Controversy Over Excluded Tokens
Despite the excitement surrounding the 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, considering 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 speculating about the future of XRP listings, especially in the United States, where anticipation continues to build after Robinhood’s recent addition of Uniswap, Stellar, and Tezos for New York residents.
Get Ready to Transfer!
As Robinhood elevates its crypto transfer feature, the firm also prioritizes user security by requiring identity verification and the setup of two-factor authentication. Safety first, right?!
After completing these steps, it may take up to five business days for approval. Operating through its Lithuania-based account, Robinhood ensures compliance and security for European customers eager to engage in crypto transfers.
Are you ready to dive into crypto transfers with Robinhood? We want to hear your take on this launch—share your thoughts!
