Robinhood EU Quietly Launches USDC Reward Program: Who Is Eligible?

Key Takeaways

• Robinhood has announced a USDC reward program.
• The reward scheme is only available for European Union customers.
• The offer will run until December.

Robinhood EU has quietly announced a USDC reward program for customers in certain jurisdictions until Dec. 15.

According to the platform , customers can earn up to 15% of USDC rewards, but how does it work?

How To Qualify?

In order to earn rewards, customers must hold USDC for at least one day during the offer period.

Those who already hold USDC before the offer period will automatically start earning rewards when the offer period starts.

Anyone can buy USDC during the offer period and hold them for at least one day to receive rewards.

Who Is Eligible?

The reward scheme only covers Robinhood customers who reside in the European Union and hold a USDC balance during the reward period.

The offer period will end on Dec. 15, although Robinhood says it reserves the right to modify this date or “change the terms, eligibility criteria, and payouts for all offers at any time, for any reason.”

How Are Rewards Collected and Calculated?

Rewards will be collected daily based on customers’ USDC balance at the end of the day, which will be calculated at 23:59 CET.

According to the platform, all rewards accumulate monthly and are paid out within seven days of the following month.

Customers will be able to find details of their rewards on the USDC details page within the app.

If a customer withdraws their entire USDC balance before the final day of the month, Robinhood claims they will still receive the rewards they had earned up until that point.

Robinhood’s Well Notice

The USDC reward program launch comes amid Robinhood’s growing regulatory woes.

Robinhood’s stock took a beating in May following reports that the Securities and Exchange Commission (SEC) had issued the company with a Wells Notice.

The regulator accused  the firm of operating an unlicensed securities exchange shortly after coming for Coinbase, Binance, and Kraken.

The SEC has issued subpoenas for information about the platform’s custodial cryptocurrency holding and operations.

About the Author

Kurt Robson

Kurt Robson is a London-based reporter at CCN with a diverse background across several prominent news outlets. Having transitioned into the world of technology journalism several years ago, Kurt has developed a keen fascination with all things AI. Kurt’s reporting blends a passion for innovation with a commitment to delivering insightful, accurate and engaging stories on the cutting edge of technology.

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