Bunq Breaks Borders: Dutch Neobank Rolls Out Crypto Trading in 6 Markets—EU Domination Next

Bunq just flipped the switch on crypto trading for users in six European countries—because apparently traditional banks weren’t moving slow enough for their taste.

The Amsterdam-based fintech—already a thorn in the side of legacy banks—now lets customers trade digital assets alongside their euro accounts. No more shuffling between exchanges and traditional banking apps.

EU expansion plans are already underway, because nothing says ’regulatory minefield’ like rolling out crypto services across 27 jurisdictions. But hey—at least they’re not waiting for MiCA to be fully implemented like those cautious dinosaurs at Deutsche Bank.

One small step for Bunq, one giant leap for crypto’s march into mainstream finance. Now if only they could do something about those gas fees.

Bunq Meets User Demand to Offer Simplified Crypto Trading

Per the official announcement, the launch follows “user demand” for a simple, transparent, and trustworthy way to invest in crypto.

The neobank surveyed European global citizens regarding their crypto investing needs. According to the research, 65% of those surveyed are looking for a single platform to manage their banking, savings, and crypto investments.

Additionally, over half of the crypto-curious citizens feel that existing platforms don’t meet their needs. The fintech firm aims to fill the gap by providing a user-friendly and trustworthy solution.

“Our users across the world have long waited for a simple, SAFE and straightforward way to invest in digital assets,” said Ali Niknam, founder and CEO of Bunq.

“Now, everything they will ever need to save, spend and invest – including crypto – is on one platform.”

Additionally, the crypto trading venture will be powered by crypto exchange giant Kraken, the exchange noted. The solution would combine the security of a fully licensed bank with Kraken’s expertise.

Neobank Reported Strong User Growth in 2024

Bunq’s crypto offering arrives at a time when the bank announced a spike in its user base. The fintech reported more than 12.5 million users as of June 2024, up from nine million users a year earlier.

Apart from crypto trading, Bunq offers a range of digital financial services such as debit cards, mortgages and current/savings accounts through its mobile app. The neobank has applied for a broker dealer license in the US.