Robinhood Recorded $119B in Crypto Notional Trading Volume This Year: Report

The cryptocurrency arm of the American monetary companies firm Robinhood has launched its end-of-the-year report for 2024, outlining its progress and enlargement to new markets over the previous 11 months.

Alongside the report launch, Robinhood Crypto is celebrating the primary anniversary of launching a digital asset buying and selling division in Europe.

Robinhood Releases Finish of Yr Report

In keeping with the report, Robinhood Crypto recorded a notional buying and selling quantity of $119 billion and $38 billion in crypto belongings underneath custody as of November 2024. The entity mentioned 2024 was an vital yr for its enterprise due to the milestones it achieved.

Robinhood Crypto expanded its companies in america by reaching full protection in 50 states and territories, together with Hawaii, Puerto Rico, and the U.S. Virgin Islands. The corporate elevated the variety of obtainable cryptocurrencies within the U.S. to twenty by including new belongings like Solana (SOL), Pepe (PEPE), and dogwifhat (WIF).

It additionally launched a brand new buying and selling utility programming interface for its U.S. customers, providing instruments to view market knowledge, handle portfolios, and place superior orders.

In Europe, Robinhood added 14 new cash for native clients, bringing the variety of supported belongings to 40. The agency additionally launched SOL and ether (ETH) staking for its European customers.

Regulatory Challenges

Moreover, Robinhood’s crypto pockets noticed notable developments. The crypto agency launched the pockets on Android and launched superior swapping options throughout a number of Ethereum-based networks, together with Arbitrum, Optimism, Polygon, and Base. The corporate additionally redesigned its token discovery tab, making it simpler for customers to search out and handle their belongings.

It’s value mentioning that Robinhood’s 2024 expertise was not with out challenges. The U.S. Securities and Trade Fee (SEC) slapped the entity with a Wells Discover in Could, indicating a risk of authorized motion over the agency’s securities regulation violations. Whereas the SEC has but to file the lawsuit, Robinhood’s crypto enterprise has performed effectively for the yr.

Johann Kerbrat, vp and normal supervisor of Robinhood Crypto, mentioned:

“2024 marked a big yr for the cryptocurrency panorama and up to date developments counsel that 2025 is poised to be an much more transformative yr, with broader adoption anticipated throughout the trade.”