Bunq, the Netherlands-based neobank, has launched its cryptocurrency trading service in several European countries, with plans for broader availability across the EEA, UK, and US. CEO Ali Niknam highlighted a long-standing demand among users for a simple and reliable way to invest in digital assets. This launch follows consecutive years of profit growth for Bunq, with a reported €85.3 million in profits for 2024. However, the company is entering a competitive space occupied by firms like Revolut, which has been offering similar services since 2017. Bunq aims to generate revenue through transaction fees amid predictions of crypto market growth.
Bunq's crypto service launches in select European countries, offering users easy access to digital assets and plans for gradual expansion across the EEA and beyond.
Ali Niknam emphasizes the demand for a safe, straightforward way to invest in digital assets, signaling the bank's bold move into the competitive crypto market.
Bunq has reported significant profits, illustrating its growth, but faces stiff competition from established players like Revolut who entered the crypto market earlier.
The neobank aims to leverage its earnings from crypto through transaction fees, betting on the expected growth of the volatile market over the next decade.
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