Bunq, Europe’s second-largest neobank, has made a major leap into the cryptocurrency space with the launch of Bunq Crypto, enabling users to invest in digital assets directly from the banking app-powered by crypto exchange giant Kraken.

This move positions Bunq at the forefront of the digital banking revolution, answering surging demand for simple, secure, and transparent access to digital assets.

A response to the rising demand for crypto

The new feature, launched last Tuesday, will allow investors from the Netherlands, France, Spain, Ireland, Italy and Belgium to invest in over 300 cryptocurrencies, including Bitcoin, Ether, and Solana.

Bunq CEO Ali Niknam expressed how the move was driven by the growing demand for digital assets.

"We believe that now many, many people, the large majority, are interested in crypto, and we believe that they're interested in buying crypto through an environment that they can trust, and they can relate to and they can recognize."

Bunq's solution was designed to combine the security of a fully licensed bank with the expertise of one of the world's longest-standing crypto exchanges.

Niknam added that the crypto-friendly landscape has opened up this opportunity for the bank to venture into crypto.

"I think for a long time, the future of crypto from a regulatory perspective was a bit unclear. And we have seen a lot of that change over the course of the past couple of months. And so we felt sufficiently assured as a regulated entity to now offer this to the general public."

With a rapidly growing user base, Bunq has plans to expand its crypto service to the entire European Economic Areas, as well as in the United States and the United Kingdom.

As of June 2024, Bunq reported more than 12.5 million users, a significant increase from 9 million users a year earlier.

Bridging the gap between banking and crypto

Bunq's move follows the broader trend among financial institutions racing to consolidate services, banking, savings, and investing-into single digital platforms.

In his post on X, Coinbase CEO Brian Armstrong described how he expected the future financial system to be anchored by a single primary financial account, where users can manage all their financial activities.

According to a study Bunq did, it realised there is a great discrepancy between the available crypto offering and user expectations in Europe.

The research shows that 65% of European consumers are seeking a unified platform that can manage all their accounts-banking, save, spend, and invest-including crypto-is on one platform.

Despite the growing demand for cryptocurrency, but the study shows that 50% of the surveyed investors responded that the existing platforms don't meet their requirements, particularly regarding simplicity and security for new investors.

"Our users across the world have long waited for a simple, safe and straightforward way to invest in digital assets. Now everything they will ever need to save, spend and invest-including crypto-is on one platform."

Bunq's crypto expansion follows Revolut's move in November 2024 to expand its crypto exchange services across 30 European Economic Area markets.