Kraken is expanding its user base through a partnership with bunq, a Netherlands-based neobank, by integrating its crypto services into bunq's platform. The collaboration, branded as Kraken Embed, allows bunq users to invest in over 300 cryptocurrencies. This integration, which took only a few weeks to implement, occurred after bunq initially considered another firm for its crypto services. Kraken's approach may draw more users as it aims for an initial public offering. Meanwhile, competition from other exchanges like Coinbase poses challenges. Coinbase recently faced a significant cybersecurity incident which may affect its growth, providing an opportunity for Kraken to attract new partnerships and customers. With bunq's user base of 17 million and a reported $8 billion in deposits, the collaboration could substantially enhance Kraken's reach, especially in Europe. Kraken is anticipated to pursue similar partnerships globally, looking to establish itself further as a leading crypto provider in various markets.

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