Dutch neobank Bunq pushes forward with its US expansion by applying for a new license.
Dutch neobank Bunq, the second-largest digital bank in Europe, is preparing to expand into the US market. The fintech firm has submitted an application for a broker-dealer license with American regulators, marking the completion of the initial phase of its two-step growth strategy.
This license will enable Bunq to provide American customers with investment opportunities, including stocks, ETFs, and mutual funds, in addition to cash management services. Features will encompass automatic transfers and debit cards supported by Mastercard.
However, Bunq is taking a cautious approach. This phased strategy allows the company to collect real-world data and user feedback before applying for a full US banking license later this year.
Obtaining a US banking license would enable Bunq to function as a fully regulated American bank, allowing it to offer checking and savings accounts, directly accept deposits, and issue credit.
Ali Niknam, the founder and CEO of Bunq — who will share insights about the company at the TNW Conference on June 20 — expressed that this expansion aligns with his goal of serving a growing community of “location-independent” users, including digital nomads, expats, remote workers, and global entrepreneurs.
Like many neobanks, Bunq operates without physical branches, focusing instead on providing banking services entirely online.
“Our users lead an international lifestyle, and they require a bank that is equally global,” Niknam stated. “Today’s milestone brings us closer to turning that vision into a reality.”
Based in Amsterdam, Bunq has experienced significant growth in Europe, currently boasting 17 million users. The company also reported a profit of €85.3 million for 2024, indicating its second consecutive year of profitability and a 65% increase compared to the previous year.
Bunq plans to reinvest these profits into its international growth, with a primary focus on the United States.
At the TNW Conference, Ali Niknam will discuss how he established a bank that operates with the agility of a startup. The conference is scheduled for June 19-20 in Amsterdam, and tickets are now available. Use the code TNWXMEDIA2025 at checkout to receive a 30% discount on admission.
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Dutch neobank Bunq pushes forward with its US expansion by applying for a new license.
Dutch neobank Bunq, the second-largest digital bank in Europe, is speeding up its expansion plans in the US following a second consecutive year of profitability.