Dutch neobank Bunq today released a crypto trading service for over 300 cryptocurrencies, consisting of Bitcoin, Ethereum, and Solana.
The service launches today and is readily available to Bunq users in the Netherlands, France, Spain, Ireland, Italy, and Belgium. It’s provided through Kraken, among the world’s biggest cryptocurrency exchanges.
Bunq prepares to “slowly broaden” the offering to the remainder of the European Economic Area (EEA), the UK, and the United States.
“Our users throughout the world have long waited for an easy, safe, and uncomplicated method to buy digital possessions,” stated Ali Niknam, the bank’s creator and CEO.
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Niknam– who will expose his development technique at TNW Conference on June 20– established Bunq in 2012. The Dutch unicorn business has actually grown to end up being Europe’s second-largest neobank, with over 17 million signed up users, behind just Revolut’s 50 million users.
The launch of its very first crypto offering follows a duration of strong development for Bunq. The business reported EUR85.3 mn in earnings for 2024, marking its 2nd successive year of success and a 65% dive from the previous year. It has actually likewise just recently obtained banking licences in the UK and the United States
With its growth into crypto trading, nevertheless, Bunq is getting in a congested market. The platform will take on heavyweights, consisting of Revolut– the continent’s leading neobank and most important fintech Revolut has actually been using crypto trading considering that 2017, permitting users to purchase, hold, and exchange digital possessions within its app.
Neobanks usually generate income off crypto by charging deal costs on trades or conversions. While the crypto market has actually been infamously unpredictable over the last few years, it’s commonly anticipated to grow considerably over the next years.
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