Robinhood Europe Debuts 5% APY Solana Staking
![](https://crypto.news/app/uploads/2024/03/crypto-news-Robinhood-option04.webp)
Digital asset trading platform Robinhood unveiled Solana-based services in Europe after delisting SOL in the U.S. due to regulatory concerns.
A May 15 press release stated that the Menlo Park service provider has enabled Solana (SOL) staking for European customers as part of its expansion across the bloc. Eligible users can now stake SOL tokens directly via the Robinhood application for as much as 5% annual percentage yield (APY), marking the company’s first-ever crypto-staking offering.
The company is also rolling out localized versions of its platform to improve crypto adoption across Europe. Users in Italy, Poland, and Lithuania will receive the new service first before the company launches in other countries.
Furthermore, new clients can earn USDC rewards for buying crypto within 30 days of signing up and access web3 educational modules centered around Avalanche (AVAX), Bitcoin (BTC), and Circle’s stablecoin.
Robinhood’s decision to offer Solana-backed facilities in Europe perhaps underpins a friendlier approach to cryptocurrencies across the continent. Introducing the Markets in Crypto Assets Regulation (MiCA) has seemingly made it easier for service providers to achieve compliance and offer tokens.
Conversely, the platform delisted SOL alongside Cardano (ADA) and (MATIC) as the U.S. SEC classified the tokens as securities in a June 2023 lawsuit. Many in the U.S. have long since decried the commission’s “regulation by enforcement” tactics, a decision that industry stakeholders say has left businesses without clear rules.
Still, the SEC has continued deploying crypto crackdowns, including a Wells notice against Robinhood for its digital asset operations. In response, the Digital Chamber expressed profound disappointment in the decision, echoing a sentiment that the SEC is failing its congressional duty to regulate markets.
Ether Surges 16% Amid Speculation Of US ETF Approval
New York, USA – Ether, the second-largest cryptocurrency by market capitalization, experienced a significant surge of ... Read more
BlackRock And The Institutional Embrace Of Bitcoin
BlackRock’s strategic shift towards becoming the world’s largest Bitcoin fund marks a pivotal moment in the financia... Read more
Robinhood Faces Regulatory Scrutiny: SEC Threatens Lawsuit Over Crypto Business
Robinhood, the prominent retail brokerage platform, finds itself in the regulatory spotlight as the Securities and Excha... Read more
Bitcoins UTXOs Signal A Rally: Is A New All-Time High Possible?
The percentage of Bitcoin unspent transaction outputs (UTXOs) in profit has dropped to its lowest level this year,… Read more
Heres Why The DOGS Token Is Rising As Cryptocurrencies Sink
DOGS token rose for the third consecutive day as most cryptocurrencies retreated after the U.S. jobs report reignited re... Read more
Trapped In A Bear Channel, Will Cardano Hold $0.30 For Recovery?
Amid the broader market correction, with the Bitcoin price crashing under the $54,000 mark, the altcoins, including Card... Read more