Robinhood Launches Solana ($SOL) Staking in Europe with 5% APY

May 15, 2024, 02:18 PM

Robinhood has launched Solana ($SOL) staking services for its European customers, offering an approximate 5% annual percentage yield (APY) at launch. This marks Robinhood's first crypto staking product in the region. The launch includes a bonus program for new customers and additional features such as localized apps and crypto rewards. Solana has been one of the most popular cryptocurrencies among Robinhood's European users. Customers can stake their Solana holdings directly through the app. This move follows Robinhood's decision to remove Solana from its U.S. platform last June after the SEC accused it of being an unregistered security.