Dutch neobank Bunq today launched a crypto trading service for over 300 cryptocurrencies, including Bitcoin, Ethereum, and Solana.
The service launches today and is available to Bunq users in the Netherlands, France, Spain, Ireland, Italy, and Belgium. It’s offered via Kraken, one of the world’s largest cryptocurrency exchanges.
Bunq plans to “gradually expand” the offering to the rest of the European Economic Area (EEA), the UK, and the US.
“Our users across the world have long waited for a simple, safe, and straightforward way to invest in digital assets,” said Ali Niknam, the bank’s founder and CEO.
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Niknam — who will reveal his growth strategy at TNW Conference on June 20 — founded Bunq in 2012. The Dutch unicorn company has grown to become Europe’s second-largest neobank, with over 17 million registered users, behind only Revolut’s 50 million users.
The launch of its first crypto offering follows a period of strong growth for Bunq. The company reported €85.3mn in profits for 2024, marking its second consecutive year of profitability and a 65% jump from the previous year. It has also recently applied for banking licences in the UK and the US.
With its expansion into crypto trading, however, Bunq is entering a crowded market. The platform will compete with heavyweights, including Revolut — the continent’s leading neobank and most valuable fintech. Revolut has been offering crypto trading since 2017, allowing users to buy, hold, and exchange digital assets within its app.
Neobanks typically make money off crypto by charging transaction fees on trades or conversions. While the crypto market has been notoriously volatile in recent years, it’s widely predicted to grow substantially over the next decade.
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