Dutch fintech
bunq has launched flexible cryptocurrency staking across the European Union,
becoming the first European challenger bank to offer the service without
mandatory lock-up periods.
Bunq Launches Flexible
Crypto Staking Across European Union
The
Amsterdam-based bank, which describes itself as Europe’s second-largest
neobank, partnered with crypto platform Kraken to deliver staking services that
allow users to earn up to 10% annually on selected cryptocurrencies. The
service operates across the Netherlands, France, Spain, Belgium, Italy,
Ireland, Germany and the broader European Economic Area.
Users can
stake their digital assets to help validate blockchain transactions while
retaining the ability to buy, sell or withdraw their holdings at any time. The
flexibility addresses what bunq research identified as a key barrier for crypto
investors: nearly 65% of users cited uncertainty about market timing as their
biggest obstacle to profiting from digital assets.
Expansion Builds on April
Crypto Launch
The staking
rollout extends bunq’s crypto offerings, which
launched in April under the bunq Crypto brand. The bank’s crypto services
run through its partnership with Kraken, giving users access to the trading
platform’s infrastructure while maintaining the banking interface.
“Our
users have been asking for a simple way to grow their crypto,” said Joe
Wilson, Chief Evangelist at bunq.
“With flexible staking, they can now earn on the crypto they already own
while keeping the freedom to buy, sell, or unstake anytime.”
The crypto
expansion comes as bunq pursues broader growth plans, including an application
for a U.S. broker-dealer license as part of its entry into American markets.
The bank has positioned itself as a technology-focused alternative to
traditional European banks, targeting customers who want integrated digital
financial services.
While the neobank
is expanding further into crypto, its partner exchange is broadening services
beyond digital assets. Following
the acquisition of Breakout, it plans to start offering proprietary trading
services.
bunq the Largest in Europe
but Still Far Behind Revolut
The staking
launch puts bunq ahead of other European neobanks in crypto services, though
traditional banks and dedicated crypto platforms already provide similar
products. The key difference is bunq’s flexible model, which removes the fixed
lock-up periods usually tied to staking rewards.
While bunq
is indeed the largest challenger bank on the European continent, with
over 20 million customers, it still lags far behind Revolut, which has
amassed 60 million users.
New crypto
products and its efforts
to obtain a broker-dealer license in the United States may help bunq close
at least part of the gap between the two fintechs.
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This article was written by Damian Chmiel at www.financemagnates.com.
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