Robinhood launches Ethereum and Solana staking services, continuing to expand its cryptocurrency business

According to Fortune magazine, Robinhood is ramping up its cryptocurrency business.

According to the company, starting Tuesday, the trading app will launch Ethereum and Solana staking services in New York, allowing customers to earn yields through cryptocurrency. The company will allow New York customers to stake and plans to expand the business nationwide. Robinhood also announced its entry into the global cryptocurrency market. In Europe, it will add perpetual futures contracts for multiple cryptocurrencies, while also entering the Indonesian market, as the company has agreed to acquire a brokerage and cryptocurrency platform in the country.