Robinhood plans to launch altcoin contracts and lower fees to enhance market competitiveness

On December 8, Robinhood announced on Monday that it plans to attract more high-level, high-volume cryptocurrency traders in the US and EU by launching new features, including lower fees and increased leverage on altcoin futures. In a statement, the company said it has expanded the available fee tiers in the US from three to seven, “offering high-volume users rates as low as 0.03%.” In the EU, users who wish to trade perpetual futures can now trade new pairs for XRP, DOGE, SOL, and SUI, with eligible customers able to use leverage of up to 7x. Johann Kerbrat, Senior Vice President and General Manager of Robinhood Crypto, said: “For a long time, Robinhood has been categorized in the crypto space as a platform more suited for low-volume traders, or for those who just want to get exposure to crypto but need to move to other platforms for more advanced features.” Johann Kerbrat acknowledged that Robinhood previously lacked some services and options that high-volume traders expect or require, which was a competitive disadvantage. But now, with lower fees for US customers and expanded futures trading in the EU, he believes Robinhood will be able to win over more sophisticated traders.