Fun

Robinhood rolls out SOL staking to European markets

News Feed - 2024-05-16 01:05:15

Ana Paula Pereira7 hours agoRobinhood rolls out SOL staking to European marketsRobinhood Crypto has chosen Europe to launch its first staking product, offering customers Solana staking with a 5% yield at launch.591 Total views2 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksTrading platform Robinhood is targeting European users to expand its crypto services as legal challenges loom in the United States. On May 15, the company announced its first crypto-staking product, exclusively for European customers.


According to an announcement, Robinhood customers can now stake Solana (SOL) and receive a 5% yield through the app. Competitors offering SOL staking, including Kraken and Binance, advertise yields of up to 5% and 8%, respectively.


Stakers receive passive rewards from their holdings in exchange for supporting the network. When staking, users lock up their tokens to validate transactions and secure the network operations. Rewards from staking can change over time due to several factors, such as network inflation, the amount of SOL staked, validators’ commission rates, and market conditions.


Along with SOL staking, the company introduced local-language versions of its crypto services for users in Italy, Poland and Lithuania, along with educational content focusing on Bitcoin (BTC), USD Coin (USDC), and Avalanche (AVAX).


“Our customers in Europe have told us loud and clear that they want an app that provides local language support and products that help them earn additional passive income,” said Johann Kerbrat, general manager of Robinhood Crypto.Source: Solana


Robinhood has seen a surge in crypto trading activity in the first quarter of 2024. The firm posted a 224% increase in crypto trading volumes to $36 billion. Approximately 40% of its transaction-based revenue was generated by crypto-related services, resulting in the firm’s second straight profitable quarter with a $157 million net income.


Despite the growing market demand, Robinhood’s crypto business still faces many challenges. On May 6, the company received a Wells notice from the U.S. Securities and Exchange Commission (SEC), indicating an incoming enforcement action against its crypto arm.


According to the filing, the SEC investigated Robinhood’s cryptocurrency listings and crypto custodian operations for alleged securities violations. As a precaution against possible securities violations, the company does not offer stake services in the United States, nor does it list some crypto tokens or provide lending services.


Magazine:What do crypto market makers actually do? Liquidity, or manipulation# Business# Robinhood# Solana# StakingAdd reaction

News Feed

Ethereum Developers Prepare to Deploy Shanghai Public Testnet, Focus on Staked Ether Withdrawals
Ethereum Developers Prepare to Deploy Shanghai Public Testnet, Focus on Staked Ether Withdrawals According to the Jan. 5, 2023 All Core Devs (ACD) meeting, Ethereum developers are
Japan’s Largest IT Service Provider Fujitsu Files Trademark Covering Crypto Trading Services
Japan"s Largest IT Service Provider Fujitsu Files Trademark Covering Crypto Trading Services Japanese tech giant Fujitsu has filed a trademark application with the U.S. Patent and
Libra Won’t Spread as Quickly as Facebook, Says Calibra Exec
Libra will take years – if not decades –  to catch on says a Calibra executive. The new stablecoin project won’t scale like social media, said Kevin Weil, vice president of
Bank of Russia Steps Up Efforts to Issue Digital Ruble Due to Sanctions
Bank of Russia Steps Up Efforts to Issue Digital Ruble Due to Sanctions The Central Bank of Russia (CBR) has accelerated the development of its digital ruble in response to Western
Best Crypto to Buy Now as the UK Lifts Ban on Crypto ETNs for Retail Investors
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Marathon Plans to Raise $500 Million From Convertible Senior Notes to Buy Bitcoin and Mining Rigs
Marathon Plans to Raise $500 Million From Convertible Senior Notes to Buy Bitcoin and Mining Rigs On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings annou
Onecoin Allegedly Tied to Racehorse Firm, Phoenix Thoroughbreds Removed from France Galop Race
Onecoin Allegedly Tied to Racehorse Firm, Phoenix Thoroughbreds Removed from France Galop RaceLast week the firm Phoenix Thoroughbreds was reportedly banned from horse racing in Fra
Ripple Proposes ‘Real Approach to Cryptocurrency Regulation’
Ripple Proposes "Real Approach to Cryptocurrency Regulation" Ripple has published a proposal for a regulatory framework for cryptocurrencies called “A Real Approach to Crypt
Plotting the path to $80K — 5 things to know in Bitcoin this week
William Suberg13 hours agoPlotting the path to $80K — 5 things to know in Bitcoin this weekBTC price gains before the Wall Street open as CPI week appears to set the tone for the incoming Bitcoin halving.10038 Total vi
3 reasons why traders put an $800 target on BNB price
Nancy Lubale4 hours ago3 reasons why traders put an $800 target on BNB priceBNB price continues to show strength, leading traders to place an $800 price target on the Binance exchange token.308 Total views12 Total shares
Sheikh Hamad Salem Becomes a MaskEX Shareholder as Both Parties Collaborate to Develop a Smart City in the UAE
Sheikh Hamad Salem Becomes a MaskEX Shareholder as Both Parties Collaborate to Develop a Smart City in the UAE press release PRESS RELEASE. Sheikh Hamad Rakadh Salem Hamad Alameri,
Tron’s Bitcoin layer-2 plan could see ’wrapped’ USDT flow into Bitcoin
Brayden Lindrea4 hours agoTron’s Bitcoin layer-2 plan could see ’wrapped’ USDT flow into BitcoinIn February, Tron founder Justin Sun announced it was working on a Bitcoin layer-2 solution to intertwine its tokens w