Robinhood, a digital asset trading platform, has introduced Solana-based services in Europe following the delisting of SOL in the U.S. due to regulatory concerns.

A May 15 announcement revealed that the Menlo Park service provider has enabled Solana (SOL) staking for European customers as part of its broader expansion across the continent. Eligible users can now stake SOL tokens directly through the Robinhood application, earning up to 5% annual percentage yield (APY). This marks Robinhood’s first crypto-staking offering.

The company is also launching localized versions of its platform to enhance crypto adoption in Europe. Initially, users in Italy, Poland, and Lithuania will access the new services, with plans to expand to other countries.

Additionally, new clients can earn USDC rewards for purchasing crypto within 30 days of signing up. They will also have access to web3 educational modules focused on Avalanche (AVAX), Bitcoin (BTC), and Circle’s stablecoin.

“Robinhood’s decision to offer Solana-backed facilities in Europe highlights a more favorable approach to cryptocurrencies across the continent.”

The introduction of the Markets in Crypto Assets Regulation (MiCA) has seemingly facilitated compliance for service providers, allowing them to offer tokens more easily. In contrast, Robinhood delisted SOL, Cardano (ADA), and Polygon (MATIC) in the U.S. after the SEC classified these tokens as securities in a June 2023 lawsuit.

Many in the U.S. have criticized the SEC’s “regulation by enforcement” tactics, arguing that this approach leaves businesses without clear guidelines. Despite the criticism, the SEC has continued its crypto crackdowns, issuing a Wells notice against Robinhood for its digital asset operations.

The Digital Chamber expressed significant disappointment in the SEC’s actions, reflecting a broader sentiment that the commission is not fulfilling its congressional duty to regulate markets effectively.

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