Bunq, the second-largest neobank in Europe, is expanding into the cryptocurrency space due to increased demand from retail investors for digital assets. On April 29, the Amsterdam-based neobank launched Bunq Crypto, allowing users in the Netherlands, France, Spain, Ireland, Italy, and Belgium to invest in over 300 cryptocurrencies, including Bitcoin, Ether, and Solana, through the Bunq app. This service is powered by Kraken and is the first phase of Bunq's global crypto expansion, with plans to extend trading across the European Economic Area, the U.S., and the U.K. Research by Bunq shows that 65% of European citizens desire a unified application for managing banking, savings, and cryptocurrency investments. Bunq has noted a significant gap in current crypto offerings versus user expectations, emphasizing the need for simplicity and security, particularly for new investors. CEO Ali Niknam stated that this development will provide users with a simple, safe way to manage all their financial activities on one platform. As of June 2024, Bunq reported growth to over 12.5 million users, reflecting a broader trend of financial institutions striving for consolidated services in the digital space.

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