Robinhood Launches SOL Staking in Europe

US-based financial services firm Robinhood has announced the launch of Solana (SOL) staking in Europe

Furthermore, the company’s trading application will include brand-new customer perks for new European customers on the platform.

The Solana staking and rewards programs are designed to work with the application. According to a press release, consumers can now “stake their Solana holdings directly through the app,” which allows for greater flexibility.

Throughout the year, Solana has been one of the cryptocurrencies to watch. Indeed, the assets have increased by more than 600% in the last year, according to CoinMarketCap. One of the most popular trading applications is about to include new staking for the asset.

Robinhood announced it would launch Solana (SOL) staking in Europe. Furthermore, the feature will be launched alongside brand-new customer perks for new customers.

Indeed, the company stated that the latest launch will aim to “increase accessibility, improve the user experience, and reinforce our commitment to Europe-based cryptocurrency traders.”

Johann Kerbrat, Robinhood Crypto’s vice president and general manager, explained the new features. He defined it as a method for European customers to “earn additional passive income” via the app.

According to the press release, the integration marks Robinhood’s first crypto-staking offering. Furthermore, clients can stake their Solana (SOL) directly from the applications. They will also be able to receive prizes and unstack whenever they choose.

In contrast, the announcement resulted in a 5% increase in SOL’s value over the previous 24 hours. Indeed, it is selling at $152, and its market capitalization has increased by more than 5% in the same period.