Robinhood Crypto has announced its expansion into Spain as of January 21, 2025, enabling local users to engage in trading, staking, and investment services. This marks a significant step for the platform as it seeks to enhance its presence in Europe following the implementation of the EU’s Markets in Crypto-Assets (MiCA) regulations at the end of December 2024.

This expansion is part of Robinhood’s broader strategy to grow across Europe, the UK, and Asia. Johann Kerbrat, the General Manager of Robinhood’s crypto unit, mentioned last year that for the total addressable market, ‘[the EU] is as big as the US.’

Robinhood’s European Initiatives Initiated in 2023

The platform first ventured into Europe in late 2023 but initially offered limited features, which included restricted access to crypto withdrawals. By March 2024, Robinhood had expanded its brokerage services to the UK, and in October, it introduced the capability for European users to transfer crypto, allowing deposits and withdrawals for a range of tokens. This feature was reportedly one of the most requested in the region and was launched with a special promotion of a 1% reward on crypto deposit values to attract new users.

As part of its European strategy, Robinhood is localizing its application for various countries like Italy, Poland, and Lithuania, which includes offering local language support and opportunities for passive income through staking. Kerbrat noted previously that their European customers prefer an app that caters to their needs in their native language.

Buenos días, España! Tweet Link
— Robinhood (@RobinhoodApp) January 21, 2025

Robinhood’s ambitions extend beyond Europe. With the acquisition of Bitstamp, valued at $200 million, the company plans to introduce cryptocurrency futures in both the US and Europe. Bitstamp is among the oldest crypto exchanges and has over 50 global licenses, enhancing Robinhood’s capacity to provide regulated services across several regions.

Expansion of US-Based Platforms in the EU

Robinhood’s move into Europe parallels actions taken by other US-based platforms, like Coinbase and Kraken, who are also looking to utilize the unified regulatory framework established by MiCA. Analysts from Bernstein have suggested that Robinhood, which is often perceived as conservative in its token listings, could substantially benefit from a more favorable regulatory environment under pro-crypto administrations.

Robinhood made headlines recently by adding the ‘Official Trump’ memecoin to its listing, further demonstrating its adaptability amid escalating competition. Last week, the platform resolved a legal dispute with the SEC by agreeing to pay a settlement of $45 million due to allegations of violating multiple securities laws, which have impacted its broker-dealer subsidiaries.