Shortly
- Bunq now offers crypto investments powered by Kraken.
- Bunq claims to have 17 million customers in Europe.
- Kraken reportedly plans to go public in 2026.
The U.S. Crypto Exchange said Tuesday that the Netherlands-based neobank Bunq now allows users to invest in cryptocurrency using Kraken’s service.
Kraken announced that the service was available to six European countries, including France and Ireland. It also allows users to purchase over 300 digital assets.
Bunq’s annual report states that in 2024 it will have 8 billion dollars of deposits from users. The website claims that customers can create an account and “hit the ground” in just five minutes. They will be able to add a tax identification at a future date. It is a company that caters exclusively to digital nomadic workers who are mobile and virtual.
Neobanks operate without branches and are entirely digital. Bunq, the European Union’s second largest neobank after the acquisition of the Belgian fintech Tricoun by Bunq in 2022. Fintech Futures. Bunq claims to have 17 million active users in Europe.
Bunq users may help Kraken boost its key statistics, since the exchange is reportedly planning a US IPO next year. According to Kraken, 13 million users worldwide “trust” the San Francisco-based exchange.
Bunq launched a new service last year that allows customers to invest in exchange-traded securities and stocks. Ali Niknam said that the company’s CEO Ali Niknam believes crypto is in line with its ambitions to become a “one-stop shop” for customers’ financial needs.
In a press release, he stated that users from around the world had been longing for an easy and safe way to buy digital assets. “Now, everything they will ever need to save, spend and invest–including crypto–is on one platform.”
Kraken has recently entered the world of stock trading. The company announced earlier this month that American users would be able eventually to trade more than 11,000 stocks, ETFs and other securities commission-free.
Last month, the Securities and Exchange Commission dropped their lawsuit against Kraken. This followed similar dismissals of cases brought against Robinhood and Coinbase. Kraken said at the time that it was a “wasteful and politically motivated campaign against the crypto-industry”.
Stacy Elliott is the editor.
