Europe’s second-largest neobank, Bunq, is broadening into cryptocurrency, pointing out growing retail financier need for digital possessions worldwide.
The Amsterdam-based neobank revealed the launch of Bunq Crypto on April 29, a brand-new offering allowing its users to buy over 300 cryptocurrencies, consisting of Bitcoin (BTC), Ether (ETH) and Solana (SOL).
Beginning April 29, Bunq users in the Netherlands, France, Spain, Ireland, Italy and Belgium will have the ability to gain access to cryptocurrencies straight through the Bunq app, according to a statement shown Cointelegraph.
The crypto offering is powered in collaboration with Kraken, the 14th-largest central cryptocurrency exchange internationally by trading volume.
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All-in-one monetary platforms in focus
This marks the very first stage of Bunq’s international crypto growth, with strategies to slowly present trading throughout the whole European Economic Location, in addition to in the United States and the UK.
Since June 2024, Bunq reported more than 12.5 million users, up from 9 million users a year previously.
Bunq’s relocation shows a wider pattern amongst banks looking for to combine services– banking, cost savings and investing– into single digital platforms.
In a February post on X, Coinbase CEO Brian Armstrong stated he anticipates future monetary systems to be anchored by “a single main monetary account” where users handle all their monetary activities.
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Need for streamlined crypto gain access to
Research study commissioned by Bunq suggests a considerable space in between readily available crypto offerings and user expectations in Europe. An approximated 65% of European customers are looking for a merged platform to handle banking, cost savings and cryptocurrency financial investments, according to the research study.
Over 50% of surveyed financiers desire crypto direct exposure however stated the existing platforms do not satisfy their requirements, especially relating to simpleness and security for brand-new financiers.
” Our users throughout the world have long waited for a basic, safe and simple method to buy digital possessions,” stated Ali Niknam, creator and CEO of Bunq. “Now, whatever they will ever require to conserve, invest and invest– consisting of crypto– is on one platform.”
Bunq’s crypto growth follows Revolut’s relocation in November 2024 to broaden its crypto exchange services throughout 30 European Economic Location markets.
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