Dutch Neobank Bunq Launches Crypto Trading in Six Nations, Plans EU-Wide Expansion

Dutch fintech and neobank Bunq has launched crypto trading services in six countries, for more than 300 cryptos, including Bitcoin, Ethereum, and Solana.

Announced Tuesday, the service will be available to Bunq users in the Netherlands, France, Spain, Ireland, Italy, and Belgium. The neobank is planning to roll out crypto trading in the European Economic Area (EEA), the US and the UK.

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.