US neobroker Robinhood (NASDAQ:HOOD) has announced the launch of Ethereum (ETH) staking at its Robinhood Crypto unit, enabling European customers to seamlessly earn rewards on their ETH holdings. For a limited time, Robinhood Crypto said it is offering a 100% match on staking earnings, up to €10,000.
Staking is the crypto equivalent of interest on deposits, allowing passive crypto holders to earn rewards on their holdings, while agreeing not to sell their crypto for a certain period of time.
Robinhood launched in Europe late last year, with a focus on crypto trading.
ETH staking allows customers to contribute to the Ethereum network’s security and efficiency while earning rewards on their ETH holdings. With Robinhood Crypto, the staking process is designed to be seamless and flexible, enabling customers to stake and unstake their ETH easily.
This launch builds on the introduction of Solana (SOL) staking on Robinhood Crypto in Europe earlier this year. For a limited time, customers can earn 100% match on earnings for both ETH and SOL staking.
Johann Kerbrat, GM & VP of Robinhood Crypto said,
“Robinhood’s platform is built with our customers at the center. Staking has been a highly requested feature but can also be intimidating to newcomers to crypto. We’ve simplified the staking process to ensure users can contribute to the security of the ETH network while also earning rewards efficiently. This offering underscores our commitment to empowering ETH holders.”
Crypto services are offered for eligible customers through an account with Robinhood Europe, UAB, registered in Lithuania. (“RHEC”). Robinhood Europe is registered according to the regulatory requirements of the Republic of Lithuania as a virtual currency exchange and virtual currency depository wallet operator.
