Robinhood, a prominent platform for cryptocurrency and stock trading, has made a notable move in the crypto investment sphere by launching Solana staking services for its European users. This fresh feature enables users to earn rewards on their Solana holdings directly through the Robinhood app, offering an initial Annual Percentage Yield (APY) of around 5%.
While Robinhood’s offering presents an appealing chance for users to generate passive income, it slightly trails behind Coinbase’s 5.42% APY for Solana stakers. However, another player in the market, Phantom Wallet, distinguishes itself by providing an even higher APY of 7.58% for Solana staking.
Johann Kerbrat, VP and GM of Robinhood Crypto, emphasized that this initiative was driven by feedback from European customers. Many customers expressed a desire for localized language support and opportunities to earn passive income through their crypto holdings.
In response to this feedback, Robinhood Crypto has introduced a range of new features tailored specifically for its European customers. These include localized apps, crypto rewards for new users, and updated Learn & Earn modules designed to provide valuable educational content about cryptocurrencies.
By rolling out Solana staking services, Robinhood remains committed to prioritizing customer satisfaction and innovation. The platform endeavors to empower users to make informed investment choices and optimize the potential of their cryptocurrency holdings.
