Bunq, Europe’s Second-Largest Neobank, Launches Crypto Service

5 months ago

KEY FACTS: Bunq, Europe’s second-largest neobank, launched its Bunq Crypto service on April 29, 2025, allowing users in six EU countries including Netherlands, France, Spain, Ireland, Italy, and Belgium, to invest in over 300 cryptocurrencies, such as Bitcoin and Ethereum, through its mobile app. Partnering with Kraken, Bunq leverages the exchange’s crypto-as-a-service solution to ensure compliance with the EU’s MiCA regulation, with plans to expand to the entire EEA, the U.S., and the UK. Driven by 65% of Europeans wanting a single app for banking and crypto, as per Bunq’s study, the neobank aims to serve its 17 million users, particularly digital nomads, while competing with rivals like Revolut.

Source: Bunq/ X

Bunq, Europe’s Second-Largest Neobank, Launches Crypto Service

Europe’s second-largest neobank has leaped into the cryptocurrency market, launching its new Bunq Crypto service on April 29, 2025. The Amsterdam-based digital bank, known for catering to digital nomads and tech-savvy users, is now enabling its customers to invest in over 300 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), directly through its mobile banking app. This strategic expansion, powered by a partnership with U.S.-based cryptocurrency exchange Kraken, will enable Bunq to meet growing retail investor demand for digital assets while navigating an evolving regulatory landscape.

We’re introducing Crypto! ₿ 🚀
Powered by Kraken, ease into the world of digital currencies directly from your bunq app — from buying to selling, it's just a tap away. Explore a wide range of cryptocurrencies safely and start today! 💸
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The launch of Bunq Crypto is initially available to users in six European countries: the Netherlands, France, Spain, Ireland, Italy, and Belgium. The neobank has ambitious plans to roll out the service across the entire European Economic Area (EEA), the United States, and the United Kingdom, where it has already applied for operating licenses. Bunq’s founder and CEO, Ali Niknam, emphasized that the move was driven by strong user demand for a “simple, safe, and straightforward” way to invest in digital assets. The neobank’s commitment is to evolve into an all-in-one financial platform that combines banking, savings, and investing.

Bunq’s foray into cryptocurrency is boosted by its collaboration with Kraken, one of the world’s leading cryptocurrency exchanges. Kraken’s crypto-as-a-service (CaaS) solution enables Bunq to integrate crypto trading seamlessly into its app, offering users access to a wide range of digital assets without the need to navigate external exchanges. The partnership ensures that Bunq’s crypto offering is compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulation and registered as a Virtual Asset Service Provider (VASP), providing a layer of trust and regulatory assurance for users.

Kraken’s involvement goes beyond technical integration. On April 30, 2025, the exchange unveiled its CaaS solution, citing Bunq as a prime example of its real-world application. Kraken’s tool is designed to allow neobanks, fintechs, and financial institutions to offer crypto services to their clients in a matter of weeks, reflecting the growing appetite for digital assets among mainstream financial players. This partnership positions Bunq at the forefront of a trend where traditional and digital finance are increasingly converging.

Furthermore, Bunq’s embrace of crypto is inspired by the surging retail interest in digital assets. According to an in-house study cited by Bunq, 65% of Europeans want a single app to manage their banking, savings, and cryptocurrency investments. This sentiment is echoed in market trends, with a Bitpanda survey indicating that European banks may be underestimating crypto demand by over 30%. Bunq is seeking to capture this growing market segment and solidify its position as a one-stop financial hub by offering crypto trading alongside its existing suite of services, such as debit cards, mortgages, and savings accounts.

Regulatory developments have also played a critical role in enabling Bunq’s crypto expansion. Niknam noted that previous regulatory constraints had delayed the neobank’s entry into the crypto space. However, recent changes in the regulatory landscape, particularly in the EU, have created a more favorable environment for such innovations. Niknam said in a statement:

"The regulatory landscape has changed and is now more susceptible to this kind of innovation; as always Bunq dived in and now we’re the first bank to deliver crypto!”

The MiCA framework, which provides clear guidelines for crypto-related activities in the EU, has given Bunq the confidence to roll out its crypto services while ensuring compliance.

The launch of Bunq Crypto is part of a strategy to expand its footprint beyond Europe. In the U.S., Bunq has filed for a broker-dealer license with the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), a stepping stone toward securing a full banking license later in 2025. This move follows a previous attempt in 2023 to obtain a U.S. federal bank charter, which was withdrawn due to regulatory challenges. Bunq is also pursuing an E-Money Institution license in the UK, where it sees significant potential among digital nomads and remote professionals.

The U.S. market, in particular, is a key focus for Bunq, especially as the regulatory environment for cryptocurrencies becomes more favorable. Recent developments, such as the Federal Reserve’s withdrawal of crypto-unfriendly banking guidance on April 24, 2025, and signals of a pro-crypto stance from the incoming Trump administration, have created optimism for crypto-related financial services in the U.S. Bunq aims to tap into the millions of digital nomads and international entrepreneurs in the U.S. and EU, offering them a seamless way to manage both traditional and digital assets.

Bunq’s entry into the crypto space places it in direct competition with other neobanks and fintechs, most notably Revolut, Europe’s largest neobank, which has also expanded into cryptocurrency trading. Bunq is positioning itself as a formidable rival, emphasizing simplicity, security, and a broad selection of cryptocurrencies by launching in six EU countries and partnering with Kraken. The neobank’s app allows users to trade digital assets with no SEPA fees and a competitive 0.16% spot rate, making it an attractive option for cost-conscious investors.

Beyond crypto, Bunq is diversifying its offerings to stay ahead in the competitive neobanking landscape. At its Bunq Update 28 event in Amsterdam, the neobank announced Bunq Deals, a program offering exclusive discounts from partners like LEGO, Expedia, and Booking.com. These initiatives reflect Bunq’s strategy to create a comprehensive financial ecosystem that caters to the lifestyle needs of its users, from travel and savings to investing.

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