Europe’s second-largest neobank, Bunq, is increasing into cryptocurrency, citing rising retail investor demand for digital belongings worldwide.
The Amsterdam-based neobank introduced the launch of Bunq Crypto on April 29, a brand new providing enabling its customers to put money into over 300 cryptocurrencies, together with Bitcoin (BTC), Ether (ETH) and Solana (SOL).
Starting April 29, Bunq customers within the Netherlands, France, Spain, Ireland, Italy and Belgium will be capable to entry cryptocurrencies straight by way of 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 part of Bunq’s international crypto enlargement, with plans to progressively roll out buying and selling throughout your complete European Economic Area, in addition to within the United States and the United Kingdom.
As of June 2024, Bunq reported greater than 12.5 million customers, up from 9 million customers a 12 months earlier.
Bunq’s transfer displays a broader development amongst monetary establishments searching for to consolidate companies — banking, financial savings and investing — into single digital platforms.
In a February post on X, Coinbase CEO Brian Armstrong stated he expects future monetary methods to be anchored by “a single primary financial account” the place customers handle all their monetary actions.
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Demand for simplified crypto entry
Research commissioned by Bunq signifies a big hole between out there crypto choices and consumer expectations in Europe. An estimated 65% of European shoppers are searching for a unified platform to handle banking, financial savings and cryptocurrency investments, in line with the examine.
Over 50% of surveyed traders need crypto publicity however stated the prevailing platforms don’t meet their necessities, significantly concerning simplicity and safety for brand spanking new traders.
“Our users across the world have long waited for a simple, safe and straightforward way to invest in digital assets,” stated Ali Niknam, founder and CEO of Bunq. “Now, everything they will ever need to save, spend and invest — including crypto — is on one platform.”
Bunq’s crypto enlargement follows Revolut’s move in November 2024 to broaden its crypto alternate companies throughout 30 European Economic Area markets.
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