Europe’s second largest neobank, BunQ, expands in cryptocurrency, citing the growing retail investor demand for digital assets worldwide.
The Amsterdam -based neobank announced the launch of BunQ Crypto on April 29, a new offer that enabled its users to invest in more than 300 cryptocurrencies, including Bitcoin (Btc), Ether (Eth) and Solana (Sol).
Starting April 29, BunQ users in the Netherlands, France, Spain, Ireland, Italy and Belgium can access cryptocurrencies directly through the BunQ app, according to an announcement shared with the cointelegraph.
Crypto offer is enabled in collaboration with Kraken, the 14th largest centralized Cryptocurrency exchange worldwide by trading volume.
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All financial platforms dedicated
It marked the first phase of BunQ’s global crypto expansion, with plans to gradually launch trade throughout the European economy, as well as the United States and the United Kingdom.
In June 2024, BunQ reported more than 12.5 million users, from nine million users a year before.
Bunq’s transfer reflects a broader trend in financial institutions that seek to combine services – banking, thrift and investment – on single digital platforms.
In a February Post In X, CEO of Coinbase Brian Armstrong said he expects future financial systems to be anchored by “a single basic financial account” in which users manage all of their financial activities.
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Demand for simplified access to crypto
Research appointed by BunQ indicates a significant gap between the available crypto offerings and the user’s expectations in Europe. It is estimated that 65% of European consumers are looking for a single platform to manage banking, savings and cryptocurrency investments, according to study.
More than 50% of reviewed investors want crypto exposure but said existing platforms do not meet their requirements, especially about simplicity and security for new investors.
“Our users around the world have long waited for a simple, safe and straightforward way to invest in digital ownership,” said Ali Niknam, BunQ’s founder and CEO. “Now, all they need to save, spend and invest – including crypto – is on a platform.”
Following Bunq’s crypto expansion Revolut’s move in November 2024 To expand crypto exchange services throughout 30 European Economic Area Markets.
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