In a move to bring bank-level security to crypto investment, crypto exchange Kraken is teaming up with bunq, the European neobank, to launch a new offering that enables users to invest in crypto safely.
The offering, dubbed ‘bunq Crypto’ is now live in the Netherlands, France, Spain, Ireland, Italy, and Belgium, and hopes to make it easier for users to begin their crypto investing journey in the bunq app. The challenger also has plans to eventually roll out the crypto trading offering across the entire European Economic Area, as well as the UK and US.
bunq’s launch comes following new research from the bank, which revealed a significant gap in the crypto market, with 65 per cent of European global citizens seeking a single platform to manage their banking, savings, and crypto investments.
Looking to meet this demand, bunq’s latest update enables users to open an account in seconds and gain immediate access to over 300 crypocurrencies. bunq Crypto is backed by the security of a fully licensed bank and its partnership with Kraken, which boasts global expertise in safeguarding digital assets.
In its survey, over half of those surveyed said they are eager to invest in crypto but feel that existing platforms don’t meet their needs, particularly when it comes to simplicity and security for beginners. With bunq Crypto, the company aims to fill this gap, providing a user-friendly and trustworthy solution for those ready to step into the world of digital assets.
“Our users across the world have long waited for a simple, safe and straightforward way to invest in digital assets,” said Ali Niknam, founder and CEO of bunq. “Now, everything they will ever need to save, spend and invest – including crypto – is on one platform.”
Rolling out banking updates
Alongside bunq Crypto, bunq also unveiled several other updates at its bunq Update 28 event in Amsterdam. The neobank rolled out ‘bunq Deals’ that enable expats, parents and entrepreneurs to save with exclusive discounts from a variety of bunq partners, such as LEGO, Expedia, and Surfshark, as well as Sixt, Booking.com, and Notion for business users.
The European neobank also added Pocket Money, empowering parents to easily deposit recurring payments into their child’s account. Getting an eSIM or adding data is now done right in the bunq app, plus the app can now be used abroad even if there’s no data left on the user’s eSIM.
Finally, bunq Business users can now earn up to one per cent cashback not only on their company expenses but also on their day-to-day, personal purchases.
The news follows bunq’s recent announcement on applying for a broker-dealer licence in the US and reporting its second consecutive annual profit.
