Digital asset buying and selling platform Robinhood unveiled Solana-based companies in Europe after delisting SOL within the U.S. as a result of regulatory considerations.
A Could 15 press launch said that the Menlo Park service supplier has enabled Solana (SOL) staking for European prospects as a part of its enlargement throughout the bloc. Eligible customers can now stake SOL tokens straight by way of the Robinhood utility for as a lot as 5% annual share yield (APY), marking the corporate’s first-ever crypto-staking providing.
The corporate can also be rolling out localized variations of its platform to enhance crypto adoption throughout Europe. Customers in Italy, Poland, and Lithuania will obtain the brand new service first earlier than the corporate launches in different nations.
Moreover, new purchasers can earn USDC rewards for getting crypto inside 30 days of signing up and entry web3 instructional modules centered round Avalanche (AVAX), Bitcoin (BTC), and Circle’s stablecoin.
Robinhood shifts chosen companies exterior the U.S.
Robinhood’s resolution to supply Solana-backed amenities in Europe maybe underpins a friendlier strategy to cryptocurrencies throughout the continent. Introducing the Markets in Crypto Belongings Regulation (MiCA) has seemingly made it simpler for service suppliers to attain compliance and provide tokens.
Conversely, the platform delisted SOL alongside Cardano (ADA) and (MATIC) because the U.S. SEC categorised the tokens as securities in a June 2023 lawsuit. Many within the U.S. have lengthy since decried the fee’s “regulation by enforcement” techniques, a choice that trade stakeholders say has left companies with out clear guidelines.
Nonetheless, the SEC has continued deploying crypto crackdowns, together with a Wells discover in opposition to Robinhood for its digital asset operations. In response, the Digital Chamber expressed profound disappointment within the resolution, echoing a sentiment that the SEC is failing its congressional responsibility to manage markets.
