Robinhood Markets Inc.

12/12/2024 | Press release | Distributed by Public on 12/12/2024 08:33

This Year in Crypto: 2024

2024 was an important year for Robinhood Crypto-and for the entire crypto industry. As we celebrate the first anniversary of the launch of Robinhood Crypto in Europe, let's take a look back at the milestones we've achieved together. From launching new features to expanding into new markets, 2024 was all about helping more people start their crypto journey and do more with crypto.

Headline stats at a glance:

  • $38 billion in crypto assets under custody as of November 2024.
  • Robinhood recorded $119 billion (LTM) crypto notional trading volume as of November 2024.

Robinhood Crypto in the U.S.

Robinhood Crypto in Europe

  • Expanding access: We launched localized apps for customers in Italy, Poland, and Lithuania, and marked one year of Robinhood Crypto in Europe.
  • More coins: Robinhood Crypto added 14 new coins in Europe this year, bringing the total number of supported crypto in Europe to 40.
  • Staking: European customers can earn rewards through staking for Solana (SOL) and Ethereum (ETH), with over two-thirds of SOL holdings in the region staked since the Q2 launch.

Robinhood Wallet

  • Global expansion: Robinhood Wallet, our self-custody web3 wallet, launched on Android and has been downloaded hundreds of thousands of times in more than 100 countries across iOS and Android.
  • Advanced swapping features: We introduced support for swaps on Solana, Base, Arbitrum, and Optimism, alongside existing support for Ethereum and Polygon. We also launched cross-chain and gasless swaps across Ethereum networks including Ethereum, Arbitrum, Polygon, Optimism, and Base networks, making it easy to swap tokens without added Robinhood Wallet fees (other fees may apply).
  • Improved token discovery: A redesigned token discovery tab makes it easier for users to find and manage their assets.

Looking back to look ahead

"2024 marked a significant year for the cryptocurrency landscape and recent developments suggest that 2025 is poised to be an even more transformative year, with broader adoption anticipated across the industry,"said Johann Kerbrat, VP & GM of Robinhood Crypto.

Robinhood Crypto aims to continue growing internationally and diversify its offerings into the institutional market.

Stay Connected

For the latest updates on Robinhood Crypto visit Robinhood (U.S.) or Robinhood Crypto (Europe) or follow us on @RobinhoodApp and @RobinhoodCrypto.

Robinhood Crypto, LLC (NMLS ID 1702840) provides cryptocurrency trading services in the US. Cryptocurrency held through Robinhood Crypto is not FDIC insured or SIPC protected. Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Please review a list of ourlicenses for more information.

Crypto services are offered for eligible customers in the EU through an account with Robinhood Europe, UAB (company number 306377915), with its registered address at Mėsinių 5, LT-01133 Vilnius, Lithuania ("RHEC"). RHEC is registered according to the regulatory requirements of the Republic of Lithuania as a virtual currency exchange and virtual currency depository wallet operator. RHEC is supervised by the Lithuanian Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania. RHEC is registered under No. RDWW-1076 in the register of virtual currency activities, kept by the Director of the Tax Administration Chamber in Katowice, in accordance with the Anti-Money Laundering and Counter-Terrorist Financing Act applicable in Poland. RHEC is also registered according to the regulatory requirements of the Republic of Italy in the special section of the register of bureaux de change (virtual currency and digital wallet services providers) kept by the Organismo Agenti e Mediatori (OAM) under No. PSV153. RHEC is subject to requirements and obligations applicable in the Republic of Italy in accordance with the Legislative Decree No. 231/2007 as to the prevention of the use of the financial system for the purpose of money laundering and terrorist financing and, to this end, is supervised by the Finance Intelligence Unit (Unità di Informazione Finanziaria - UIF) of the Bank of Italy.

Self-custody cryptocurrency wallet and related services are offered through Robinhood Non-Custodial, Ltd., a limited company organized in the Cayman Islands, and other third-party providers. Cryptocurrency held through the Robinhood Self-Custody Wallet is not FDIC insured or SIPC protected. Availability may be subject to regulatory approval in certain jurisdictions.

Cautionary Note Regarding Forward-Looking Statements

This blog post contains forward-looking statements, regarding Robinhood Crypto, LLC, a wholly owned subsidiary of Robinhood Markets, Inc. (together with its consolidated subsidiaries, "we," "Robinhood," or the "Company") and our strategic and operational plans, including (among others) statements that recent developments suggest that 2025 is poised to be an even more transformative year, with broader adoption anticipated across the industry; and that Robinhood Crypto aims to continue growing internationally and diversify its offerings into the institutional market. Our forward-looking statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause our actual future results, performance, or achievements to differ materially from any future results expressed or implied in this blog post. Reported results should not be considered an indication of future performance. Factors that contribute to the uncertain nature of our forward-looking statements include, among others, the impact of negative publicity on our brand and reputation; the risk that changes in business, economic, or political conditions that impact the global financial markets, or a systemic market event, might harm our business; the difficulty of complying with an extensive, complex, and changing regulatory environment and the need to adjust our business model in response to new or modified laws and regulations; the possibility of adverse developments in pending litigation and regulatory investigations; the effects of competition; our need to innovate and invest in new products, services, technologies, and geographies in order to attract and retain customers and deepen their engagement with us in order to maintain growth; our need as a regulated financial services company to develop and maintain effective compliance and risk management infrastructures; the volatility of cryptocurrency prices and trading volumes; and the extent and nature of the demand of Robinhood customers for crypto. Because some of these risks and uncertainties cannot be predicted or quantified and some are beyond our control, you should not rely on our forward-looking statements as predictions of future events. More information about potential risks and uncertainties that could affect our business and financial results can be found in Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, as well as in our other filings with the SEC, all of which are available on the SEC's web site at www.sec.gov. Moreover, we operate in a very competitive and rapidly changing environment; new risks and uncertainties may emerge from time to time, and it is not possible for us to predict all risks nor identify all uncertainties. The events and circumstances reflected in our forward-looking statements might not be achieved and actual results could differ materially from those projected in the forward-looking statements. Except as otherwise noted, all forward-looking statements are made as of the date of this blog post, December 12, 2024, and are based on information and estimates available to us at this time. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. Except as required by law, Robinhood assumes no obligation to update any of the statements in this blog post whether as a result of any new information, future events, changed circumstances, or otherwise. You should read this blog post with the understanding that our actual future results, performance, events, and circumstances might be materially different from what we expect.