Kraken Faces New Competition as Dutch Neobank Bunq Expands Crypto Trading in EU

Bunq, the Dutch neobank, has launched cryptocurrency trading services in six European countries, including Ireland, positioning itself as a direct competitor to established players like Revolut and Kraken. This move signifies a major milestone in mainstream crypto adoption, offering users a seamless way to trade digital assets through their banking app.

Dutch Neobank Bunq Launches Crypto Trading in Six EU Countries, Challenging Revolut

Bunq, the Dutch neobank, has expanded its services to include cryptocurrency trading in six European countries, directly challenging rivals like Revolut. Irish users can now trade digital assets seamlessly through their Bunq banking app, marking a significant step in mainstream crypto adoption.

"Our users across the world have long waited for a simple, safe, and straightforward way to invest in digital assets," says Ali Niknam, founder and CEO of Bunq. The integration, powered by Kraken, allows users to buy and sell cryptocurrencies with just a tap, offering a curated selection of assets.

The move underscores Bunq’s ambition to consolidate financial services—saving, spending, and now investing—into a single platform. As traditional and digital finance converge, Bunq positions itself at the forefront of Europe’s fintech evolution.

Kraken Announces Growth in Q1 Revenue YoY: Crypto Boom at Hand

Kraken, a veteran cryptocurrency exchange, reported a 19% year-over-year increase in Q1 2025 revenue, reaching $471.7 million. Adjusted EBITDA ROSE 17% to $187.4 million, signaling robust operational performance. Trading volume surged 29% YoY to $208.7 billion, reflecting renewed retail FOMO and institutional interest.

The exchange is preparing for a near-term IPO, capitalizing on bullish market sentiment. Bitcoin’s breakout from key resistance levels suggests an impending euphoric rally, further fueling speculative activity across crypto markets.