Robinhood Crypto has introduced Sonic (S) trading support in Europe as part of its expansion strategy. Sonic, previously known as Fantom (FTM), is the native token of the Sonic network, which is built on the Solana-based Layer 1 EVM blockchain.
Following this announcement, Sonic has achieved a #55 ranking on CoinMarketCap, with a current price of $0.8013, reflecting a 1.01% increase in the last 24 hours. Its market capitalization is around $2.3 billion, and trading volume surged by 153.72% to reach $221.86 million.
This addition aligns with Robinhood’s broader strategy to enhance its presence in the European market. The recent $200 million acquisition of Bitstamp strengthens this initiative, providing Robinhood access to Bitstamp’s licensing network in the EU and UK. This positions Robinhood for increased growth and influence in the crypto space.
Johan Cabat, Vice President and General Manager of Crypto at Robinhood, emphasized the company’s commitment to both equities and cryptocurrency. This dual focus aims to deliver a seamless trading experience for traditional and digital asset investors. As the European crypto market evolves, Robinhood’s inclusion of Sonic trading is a timely response to these changes.
In its European expansion, Robinhood is also prioritizing regulatory compliance. The company is monitoring regulatory developments, including the upcoming MiCA framework in France, which will clarify guidelines for crypto assets.
