- Robinhood Crypto achieved $119 billion in trading volume and $38 billion in assets under custody.
- The firm expanded its services to 50 U.S. states and added 14 crypto assets in Europe.
- Despite facing SEC challenges, Robinhood Crypto continues to grow and innovate.
Robinhood Crypto has announced a strong performance in 2024, reporting a notional trading volume of $119 billion and $38 billion in assets under custody as of November.
The company’s growth reflects its ongoing efforts to expand services in the United States and Europe, alongside its successful launch of its digital asset trading division in Europe one year ago.
The firm fully covered 50 U.S. states and territories, including Hawaii and Puerto Rico. This expansion has enabled Robinhood to increase the range of available cryptocurrencies to 20 in the U.S., adding notable assets like Solana (SOL), Pepe (PEPE), and dogwifhat (WIF).
Additionally, the company introduced a new trading application programming interface (API) that provides users with tools for market data, portfolio management, and advanced orders.
In Europe, Robinhood Crypto has extended its services further by adding 14 new cryptocurrencies, bringing the total number of supported assets to 40. European users can also now stake Solana (SOL) and Ethereum (ETH) through the platform, enhancing their trading experience with more options and flexibility.
Moreover, Robinhood launched its crypto wallet on Android and introduced advanced swapping features across several Ethereum-based networks, including Arbitrum, Optimism, Polygon, and Base.
These developments, alongside redesigning the token discovery tab, have made it easier for users to manage their crypto assets efficiently.
Despite these achievements, Robinhood Crypto faced regulatory hurdles in 2024. In May, the U.S. Securities and Exchange Commission (SEC) issued a Wells Notice to the firm, signaling potential legal action over alleged violations of securities laws.
However, no lawsuit has been filed, and the company’s crypto operations continue to thrive.
Johann Kerbrat, Vice President and General Manager of Robinhood Crypto, highlighted that 2024 was a pivotal year for the cryptocurrency sector. He expressed optimism for 2025, anticipating broader adoption across the industry.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
