• Robinhood Crypto has announced launch of Solana (SOL) staking for its customers in Europe.
• New customers will also enjoy a 10% bonus on net buys.

Robinhood is expanding its services and products for users in Europe.

On Wednesday, the trading platform announced it was launching new features that include Solana (SOL) staking, localized apps and crypto rewards among others. The new features will target new customers, Robinhood Crypto said in an update.

Robinhood launches SOL staking in Europe

As part of its growth efforts, Robinhood Crypto now offers its “first-ever crypto staking product”.

The platform said Solana (SOL) staking is now available directly via its app, which means users can earn rewards from their staked SOL tokens.

The product will offer the flexibility of users being able to unstake at any time.

“Robinhood Crypto is already one of the lowest cost places to trade on average with an easy-to-use interface that prioritizes education. Today’s news is a significant step forward in our mission to offer customers a more tailored in-app experience that meets their specific needs and helps them on their financial journey,” Johann Kerbrat, VP and GM of Robinhood Crypto said in a statement.

Staking rewards, bonuses

Other than the staking rewards, new customers have a chance to unlock a 10% bonus on net buys accrued over the user’s first 30 days of trading. Payouts for the bonuses will be in USDC.

New customers will also benefit from the Learn & Earn modules the platform has launched, with initial focus on Bitcoin (BTC), Avalanche (AVAX) and the USDC stablecoin. The products are tailor-made to bolster customers’ knowledge and understanding of different cryptocurrencies.

The new features also include localized apps, with local language versions of the app launched in Italy, Poland and Lithuania. Robinhood Crypto will be unveiling these localized app versions in coming weeks, the company announced.

• Mizuho Analyst Says Coinbase Could Lose Share Of Retail Cryptocurrency.
• Dan Dolev continues to see destructive crypto change costs to $27 per share.
• Coinbase inventory is presently down 35% from its one-year excessive in March.

Coinbase World Inc stays liable to being lower in half, says Dan Dolev. He’s a senior analyst at Mizuho.

Coinbase shares might fall to $27

Immediately, Dolev maintained its “underperform” score on the cryptocurrency change. His $27 value goal suggests the inventory might attain an alarming 50% upside.

The analyst downgrades Coinbase shares partially as a result of he suspects it’s shedding share to look Robinhood Markets Inc. in retail.

Our evaluation exhibits that COIN’s share of complete COIN retail + Hood crypto quantity decreased in April from approx. 65% ratio during the last three quarters.

A part of which will need to do with the lawsuit the US Securities and Change Fee introduced in opposition to the cryptocurrency firm final week.

Coinbase has elevated buying and selling charges

Dan Dolev additionally cited buying and selling charges as a attainable cause why Coinbase World Inc is shedding out to Robinhood.

A Mizuho analyst stated in a analysis observe to purchasers as we speak that the cryptocurrency change has been charging increased charges to small-ticket merchants to compensate for the diminished quantity which will have led to Robinhood’s underpinnings, because it has to this point not raised charges.

If we assume the COIN inventory and retail price remained flat at 168 bps in April…that might imply 117 million. USD retail transactions in April.

By comparability, the corporate just lately reported a decrease $110 million. Coinbase inventory is presently down 35% from its one-year excessive.

• Robinhood introduced Robinhood Join, a brand new function that provides seamless encryption integration for dApps and wallets.
• Giddy, a standalone pockets, is without doubt one of the first cellular wallets to implement the brand new on-ramp function.
• Clients can straight and immediately purchase or switch cryptocurrency from dApps, in addition to fund their Web3 wallets.

Robinhood, a number one on-line inventory and cryptocurrency brokerage, has launched a brand new product referred to as Robinhood Join, which is able to permit prospects to simply buy and switch cryptocurrencies and fund their Web3 wallets.

On this case, anybody with a Robinhood stability can now immediately purchase Bitcoin or different tokens and switch them to their pockets utilizing the brand new ramp.

Robinhood’s new foray into Web3.

Robinhood Join is a brand new low-cost, persistent platform that can permit prospects to prime up their wallets from decentralized purposes or third-party wallets with out leaving dApps or logging into their Robinhood Crypto account first.

“Crypto and Web3 have the potential to vary the way forward for the monetary system for the higher, however we acknowledge that there are nonetheless important boundaries to wider adoption.” stated Johann Kerbrat, CEO of Robinhood Crypto, when introducing the Consensus 2023 product.

Kerbrat added that Robinhood Join demonstrates the brokerage platform’s robust dedication to crypto adoption, and the brand new product is designed to extend the supply and use of cryptocurrencies.

Builders can benefit from Join’s seamless integration, making embedding this function simple. Builders could make this function straight accessible to customers from dApps, in line with the announcement. Which means tasks will be capable to permit their purchasers to purchase tokens by the brokerage platform and ship them to escrow wallets.

Robinhood introduced Thursday that Giddy, a self-maintained, renewable good pockets app powered by Polygon, was one of many first cellular wallets to combine Robinhood Join. The app can even be rolled out to different platforms over the subsequent few months.

We’re proud to announce that Giddy is without doubt one of the first cellular wallets to combine Robinhood Join from @RobinhoodApp pic.twitter.com/TbHgA9WPXt

– Giddy (@giddydefi) in 2023 April 27

Robinhood sees new progress momentum

Based in 2013, Robinhood has seen super progress in its cryptocurrency since its launch in 2018. took up cryptocurrencies. Though the winter revenue of cryptocurrencies in 2022 down greater than 24% on the finish of the yr, on-line brokerage stays a preferred program for merchants. .

The collapse of the cryptocurrency trade FTX in 2022 and a current investigation by the US Securities and Change Fee (SEC) has weighed on Robinhood in current months. Nonetheless, the platform continues to make nice strides to turn into a number one cryptocurrency buying and selling vacation spot.

One among these steps is integration with the most well-liked cryptocurrency platforms and the implementation of a number of customer-oriented purposes.

The platform presently helps cryptocurrency buying and selling and funding in 18 cryptocurrencies, together with Bitcoin, Ethereum, Litecoin, and Bitcoin Money. The net brokerage additionally helps shopping for and promoting of the very best meme cash Dogecoin and Shiba Inu.