Bunq, Europe’s second-largest neobank, expands into crypto
Europe’s second-largest neobank, Bunq, is increasing into cryptocurrency, citing rising retail investor demand for digital property worldwide.
The Amsterdam-based neobank introduced the launch of Bunq Crypto on April 29, a brand new providing enabling its customers to spend money on over 300 cryptocurrencies, together with Bitcoin (BTC), Ether (ETH) and Solana (SOL).
Beginning April 29, Bunq customers within the Netherlands, France, Spain, Eire, Italy and Belgium will be capable to entry cryptocurrencies straight by the Bunq app, in line with an announcement shared with Cointelegraph.
The crypto providing is powered in partnership with Kraken, the 14th-largest centralized cryptocurrency exchange globally by trading volume.
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All-in-one monetary platforms in focus
This marks the primary section of Bunq’s international crypto enlargement, with plans to steadily roll out buying and selling throughout all the European Financial Space, in addition to in america and the UK.
As of June 2024, Bunq reported greater than 12.5 million customers, up from 9 million customers a yr earlier.
Bunq’s transfer displays a broader development amongst monetary establishments looking for to consolidate providers — banking, financial savings and investing — into single digital platforms.
In a February post on X, Coinbase CEO Brian Armstrong stated he expects future monetary techniques to be anchored by “a single main monetary account” the place customers handle all their monetary actions.
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Demand for simplified crypto entry
Analysis commissioned by Bunq signifies a big hole between accessible crypto choices and consumer expectations in Europe. An estimated 65% of European shoppers are looking for a unified platform to handle banking, financial savings and cryptocurrency investments, in line with the research.
Over 50% of surveyed traders need crypto publicity however stated the present platforms don’t meet their necessities, notably concerning simplicity and safety for brand spanking new traders.
“Our customers the world over have lengthy waited for a easy, protected and simple approach to spend money on digital property,” stated Ali Niknam, founder and CEO of Bunq. “Now, the whole lot they are going to ever want to avoid wasting, spend and make investments — together with crypto — is on one platform.”
Bunq’s crypto enlargement follows Revolut’s move in November 2024 to increase its crypto trade providers throughout 30 European Financial Space markets.
