Robinhood expands perpetual futures offering in Europe, plans crypto launch in UK

July 1 (Reuters) - Robinhood said ‌on Wednesday ​it ​plans to launch crypto trading in the UK and broadened its perpetual futures offering in Europe beyond ‌cryptocurrencies.

Here are some details:

• Eligible European investors will now ⁠be able to trade perpetual futures tied to commodities, ETFs and foreign ‌exchange markets, including gold, silver, ‌crude oil and the euro-dollar pair, with leverage of up to 10 times and round-the-clock trading, the company said.

• Perpetual ​futures, commonly known as "perps," are futures contracts with no expiration date and have drawn significant attention in the U.S. ⁠after the CFTC in May permitted their trading on domestic exchanges.

• Separately, Robinhood said ​it plans to roll out crypto trading for the UK as it seeks to build an all-in-one ​investing platform for the region.

• The ‌company also launched Robinhood Earn, a lending product that allows eligible U.S. users to lend their ⁠dollar-backed stablecoin, USDG, through a self-custody wallet at an estimated 7% annualized return.

• Robinhood Earn includes insurance for certain losses stemming from cyberattacks ⁠or smart-contract exploits, with the coverage arranged through Lloyd's of London and ​RELM.

• The company also announced its entry into Canada following its acquisition of WonderFi and said it had received a capital markets services licence ‌in Singapore.

• The trading platform, which serves more than 28 million customers across 38 countries, has ‌expanded into more financial services in recent years to reduce ⁠its reliance on trading activity.

• ‌The company posted ​weaker-than-expected transaction revenue for the first quarter amid crypto-driven volatility.

(Reporting by Pragyan Kalita in Bengaluru; Editing by Leroy ‌Leo)

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