Update (April 29 at 8:54 pm UTC): This piece has been refreshed to incorporate remarks from Bunq’s CEO to Cointelegraph.
Europe’s second-largest neobank, Bunq, is venturing into cryptocurrency, referencing increasing retail investor interest in digital assets globally.
The Amsterdam-based neobank introduced Bunq Crypto on April 29, a new service that allows its users to invest in over 300 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Solana (SOL).
Beginning April 29, Bunq users in the Netherlands, France, Spain, Ireland, Italy, and Belgium will be able to access cryptocurrencies directly through the Bunq app, as stated in an announcement.
Bunq CEO Ali Niknam informed Cointelegraph that the decision was fueled by rising client interest in digital assets. “We believe that currently, many, many individuals, the vast majority, are keen on crypto, and we trust that they prefer purchasing crypto via an environment that they can rely on, feel connected to, and easily recognize,” he explained.
Additionally, a more favorable regulatory environment aided the bank’s foray into crypto. “I believe that for a considerable period, the future of crypto from a regulatory viewpoint was somewhat ambiguous. However, we have witnessed significant changes in recent months. Therefore, we felt sufficiently confident as a regulated entity to now present this to the public,” Niknam remarked.
The crypto offering is powered in collaboration with Kraken, the 14th-largest centralized cryptocurrency exchange worldwide based on trading volume.
All-in-one financial platforms in view
This signifies the initial phase of Bunq’s global crypto growth, with intentions to incrementally expand trading across the entire European Economic Area, as well as the United States and the United Kingdom.
As of June 2024, Bunq reported over 12.5 million users, an increase from nine million the previous year.
Initiative mirrors a broader movement among financial institutions aiming to combine services — banking, savings, and investing — into unified digital platforms.
In a February post on X, Coinbase CEO Brian Armstrong stated he expects future financial frameworks to be centered around “a single primary financial account” where users manage all their financial endeavors.
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Demand for streamlined crypto access
Research commissioned by Bunq reveals a notable disconnect between available crypto services and user expectations in Europe. Approximately 65% of European consumers are looking for a consolidated platform to oversee banking, savings, and cryptocurrency investments, according to the study.
Over 50% of surveyed investors desire crypto exposure but mentioned that existing platforms fail to satisfy their needs, especially concerning simplicity and security for novice investors.
“Our users worldwide have long yearned for a straightforward, secure, and uncomplicated approach to investing in digital assets,” stated Ali Niknam, founder and CEO of Bunq. “Now, everything they require to save, spend, and invest — including crypto — is available on a single platform.”
Crypto expansion follows Revolut’s initiative in November 2024 to broaden its crypto exchange services across 30 European Economic Area markets.
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