Bunq: Europe's Second-Largest Neobank Sets Sights on Crypto Expansion

The second-biggest neobank in Europe, Bunq, is venturing into cryptocurrencies due to increasing interest from individual investors globally in digital assets.

The neo-bank based in Amsterdam unveiled Bunq Crypto on April 29, introducing a service that allows its customers to invest in more than 300 different types of cryptocurrency, such as Bitcoin. BTC ), Ether ( ETH ) and Solana ( SOL ).

As of April 29, Bunq users across the Netherlands, France, Spain, Ireland, Italy, and Belgium can start accessing cryptocurrencies via the Bunq application, as mentioned in an announcement made to Cointelegraph.

The cryptocurrency offering is done in collaboration with Kraken, which ranks as the 14th largest centralized exchange. global cryptocurrency exchange ranked by trading volume .

Related: Coinbase plans to introduce a Bitcoin fund that generates yields for institutional investors.

Comprehensive financial platforms under scrutiny

This signifies the initial stage of Bunq’s worldwide cryptocurrency expansion, with intentions to progressively introduce trading throughout the complete European Economic Area, along with launches in both the United States and the United Kingdom.

By June 2024, Bunq had announced over 12.5 million users, an increase from approximately nine million users the previous year.

Bunq's action mirrors a larger pattern seen across financial organizations aiming to integrate various services—such as banking, saving, and investment—into unified digital platforms.

In a February post On X, Coinbase’s CEO Brian Armstrong stated his expectation for future financial systems to rely on "one main financial account" through which users will handle all of their monetary transactions.

Related: Firms holding Bitcoin treasuries fueling $200T hyperbitcoinization — Adam Back

Need for easier cryptocurrency accessibility

A research sponsored by Bunq reveals a notable disparity between the current state of accessible crypto services and what users desire within Europe. The findings suggest that approximately 65% of European consumers are looking for an integrated platform to handle their banking, saving, and cryptocurrency investment needs, as indicated by the study.

More than half of the surveyed investors expressed interest in incorporating cryptocurrency into their portfolios; however, they found current platforms inadequate, mainly due to issues with user-friendliness and safety for beginners.

“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.”

Bunq’s crypto expansion follows Revolut’s action in November 2024 To broaden its cryptocurrency exchange offerings throughout 30 markets within the European Economic Area.

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