Robinhood launches Solana staking in Europe plus new customer rewards program

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The Block2024/05/15 08:04

By:The Block

Quick Take Robinhood Crypto is launching a Solana-staking product for European customers. The trading app is also offering a 10% bonus to new customers for first 30 days on platform.

Robinhood launches Solana staking in Europe plus new customer rewards program image 0

Robinhood Crypto has announced it is launching a Solana-staking product in Europe in conjunction with a bonus program for new customers.

In Europe, "Robinhood Crypto customers can now stake their Solana holdings directly through the app, allowing them to earn rewards with the flexibility to unstake at any time," the company said in a statement. Additionally, "new customers can earn a 10% bonus on their net buys over their first 30 days on the platform," Robinhood added.

Bonuses will be paid out in USDC stablecoins, according to the statement.

“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,” Robinhood Crypto VP Johann Kerbrat said in the statement.

The company said in the coming weeks it will launch "localized" versions of the app. The new initiative will include local versions for users in Italy, Poland and Lithuania. Robinhood stated its app has been popular in the three countries.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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