- Bunq launches crypto trading in six countries via Kraken, simplifying access to 300+ digital assets on one banking platform.
- By combining Kraken’s infrastructure with Bunq’s mobile app, users gain secure, Mica-compliant crypto investing within seconds.
- Bunq’s crypto rollout aligns with user demand for unified finance tools, as its user base grows past 17 million with €8B in deposits.
As per Cointelegraph X post, Europe’s second-largest neobank, Bunq, has ventured into the business of crypto trading with a strategic partnership with Kraken. The new product, bunq Crypto, was launched on April 29 in six nations — the Netherlands, France, Spain, Ireland, Italy, and Belgium. This rollout marks a step in Bunq’s broader expansion strategy. The firm plans to gradually introduce the product to the rest of the European Economic Area. It also eyes entry into the UK and U.S. markets, where it has applied for operating licenses.
The collaboration integrates Kraken’s trading infrastructure with Bunq’s mobile banking platform. Users can now access over 300 cryptocurrencies, including Bitcoin, Ethereum, and Solana. Hence, the feature eliminates the need to use separate platforms for crypto investing. According to Bunq’s internal research, 65% of Europeans prefer managing banking and crypto within one ecosystem. Moreover, more than half expressed concerns about complexity and security of existing crypto apps.
A Push for Simplicity and Security
Bunq aims to address these concerns by merging the safety of a licensed bank with Kraken’s crypto expertise. The platform enables users to open accounts in seconds and start trading immediately. Besides, the service complies with MiCA regulations and holds VASP registration, strengthening user trust.
Ali Niknam, Bunq’s founder and CEO, emphasized user demand as the driving force behind the launch. “Now, everything they will ever need to save, spend, and invest — including crypto — is on one platform,” he said. Consequently, this unified approach is expected to attract a new wave of crypto-curious users.
Expanding Financial Horizons
During its Update 28 event in Amsterdam, Bunq also revealed new features for business users. Notably, they can now earn up to 1% cashback on personal and business purchases. Additionally, the neobank continues to grow its user base, now exceeding 17 million, with over €8 billion in deposits.
In 2024, Bunq reported net profits of €85.3 million — up 65% from 2023. This marked its second consecutive year of profitability. Furthermore, the bank is aggressively pursuing regulatory approval in the UK and U.S. markets. Kraken has also expanded its offerings. In April, it began a phased rollout of U.S. stock and ETF trading. This move further blurs the lines between traditional finance and digital assets.
