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Robinhood Crypto, the cryptocurrency arm of the popular trading app Robinhood, has announced the launch of a new Solana (SOL) staking product in Europe. This move comes alongside an attractive bonus program designed to incentivize new customers to join the platform.
European Robinhood Crypto users can now directly stake their Solana holdings through the app, allowing them to earn rewards while maintaining the flexibility to unstake their assets at any time. This feature provides an opportunity for users to generate passive income from their cryptocurrency holdings.
To further entice new users, Robinhood is offering a 10% bonus on net buys made by new customers during their first 30 days on the platform. The bonuses will be paid out in USDC stablecoins, providing users with a reliable and stable form of reward.
Customer demand-driven decision
Johann Kerbrat, VP of Robinhood Crypto, stated that the company’s decision to introduce these features was driven by customer demand
Since launching at the end of last year, 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.
The announcement follows reports that the United States Securities and Exchange Commission (SEC) could sue Robinhood Markets over crypto-related security law violations. In late March, the SEC also approached a judge in New York, seeking to impose a penalty close to $2 billion on Ripple Labs for its XRP offering.
