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Robinhood is planning to launch a meme coin contract and reduce fees to enhance market competitiveness
BlockBeats News, December 8th, Robinhood announced on Monday its plans to attract more high-level, high-volume cryptocurrency traders from the United States and the European Union by introducing new features, including reduced fees and increased leverage for altcoin futures. The company stated in a press release that in the United States, it has expanded the available fee tiers from three to seven, "offering fees as low as 0.03% for high-volume users." In the European Union, users interested in trading perpetual futures can now trade new pairs for XRP, DOGE, SOL, and SUI, with eligible customers able to trade with leverage of up to 7x.
Robinhood's Senior Vice President and General Manager of Crypto, Johann Kerbrat, stated: "For a long time, Robinhood has been categorized in the cryptocurrency space as a platform more suitable for low-volume traders or for those who just want to dabble in cryptocurrency but need to go to other platforms for more advanced features." Johann Kerbrat admitted that in the past, Robinhood lacked some services and options that high-volume traders expected or demanded, which was a competitive disadvantage. However, now with fee reductions for U.S. customers and an expanded futures trading scope in the European Union, he believes that Robinhood will be able to attract more sophisticated traders.
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