Bunq, the second-largest neobank in the EU, has introduced a cryptocurrency trading service in collaboration with crypto exchange Kraken.
Users in the Netherlands, France, Spain, Ireland, Italy, and Belgium can already access this new feature, known as Bunq Crypto, with ambitions to extend into the U.S. and U.K. markets in addition to the European Economic Area.
What Are The Features of the New Crypto Service
Users may trade more than 300 cryptocurrencies, such as Bitcoin, Ethereum, and Solana, right within the Bunq app using Bunq Crypto.
The goal of the integration is to give consumers a simple and safe way to handle their savings, banking, and cryptocurrency investments in one location.
Bunq’s research shows that 65% of Europeans prefer a single platform for their financial needs, which is why this move was made.
Ali Niknam, the founder and CEO of Bunq, emphasized that banks are now better positioned to provide cryptocurrency services due to Europe’s changing regulatory environment.
He said, “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!”
This partnership with Kraken not only enhances Bunq’s service offerings but also positions the neobank to meet the growing demand for integrated digital financial solutions.
Also Read: Kraken Teams With Mastercard To Launch Crypto Debit Cards For 150M+ Merchants In U.K. & Europe
Bunq To Likely Witness Rise in Customer Userbase With Expansion of New Service
With the introduction of its new cryptocurrency trading service, Bunq Crypto, Dutch neobank Bunq, which already has over 17 million customers throughout Europe, is poised to venture into the realm of digital assets.
The service, which will provide users access to a variety of cryptocurrencies directly within the Bunq app, will first be launched in six countries: the Netherlands, France, Spain, Ireland, Italy, and Belgium.
The action is a component of Bunq’s larger plan to integrate digital assets and traditional banking into a one-stop financial platform. As legal conditions improve and demand for seamless financial services keeps increasing, CEO Ali Niknam has indicated that the bank intends to soon expand Bunq Crypto throughout the European Economic Area.
Bunq’s New Features To Aid Financial Ecosystem
Users and the larger financial ecosystem stand to gain greatly from Bunq’s entry into the cryptocurrency market with its new service, Bunq Crypto.
Bunq offers consumers a smooth, one-stop financial platform by including cryptocurrency trading within its banking app, doing away with the need to go between banks and other cryptocurrency exchanges.
Convenience is increased by this action, especially for tech-savvy individuals looking for quick access to digital content.
Furthermore, safe and dependable cryptocurrency transactions are guaranteed by the collaboration with Kraken.
Additionally, Bunq’s initiative takes advantage of advantageous regulatory changes and corresponds with the rising demand for crypto services in Europe.
Bunq’s proactive strategy enhances its competitive advantage as digital finance develops and gives millions of customers the ability to manage fiat and cryptocurrency assets in a single, intuitive interface.
Also Read: Coinbase Director Suggests Kraken May Hold Clues To Satoshi Nakamoto’s Identity