The bunq neobank obtains the license to operate in the US as a ‘broker-dealer’
The bunq neobank arrives in the United States after obtaining the license to operate as a ‘broker-dealer’ in the country. Permission has been granted by the Financial Industry Regulatory Authority (Finra, for its acronym in English) and will allow the second largest neobank in Europe to offer investment services in stocks in the US market, as well as its self-managed investment proposal, which includes mutual funds and ETFs.
“Our users move around the world: they live, work and travel without borders. For many of them, the United States is an essential part of their lives. That’s why we are very happy with our arrival to the market American, to make life easy for both Americans and those who consider it their home,” said the founder and CEO of Bunq, Ali Niknam. The figure of the ‘broker-dealer’ is a person or company that can act as an intermediary, that is, they buy and sell for their clients or for their own management.
The first failed approach took place in 2023but eventually withdrew from the process a year later due to discrepancies between the Dutch and North American regulators. The project was resumed last April once these differences were resolved. The objective in this country is to offer all the services available in Europe.
He US appeal for bunq It lies in the five million digital nomads that it registers, as well as in the community of entrepreneurs and international remote workers that it has. He profile of employees who work remotely represents a potential niche for the bank, given that they are the ones that have driven its growth throughout Europe.
Spain is one of its key markets
The Amsterdam-based neobank is also present in Spain, where it landed in 2021 to become one of the group’s key geographies. In this sense, one of its latest features was the incorporation of Bizum, as well as the launch of bunq Cryptowhich allows trading with more than 300 virtual currencies, including Bitcoin, Ethereum and Solana. The service is available in Spain, but also in Netherlands, France, Ireland, Italy and Belgium with the possibility of gradually expanding to the rest of the European Economic Area.
Niknam founded bunq in 2012in the midst of the financial crisis. At the moment it operates in the 27 countries that make up the European Union and has with a total staff of 800 workers. Of them, 16 are located in Spain. The expansion plans also include a return to the United Kingdom, from which they were forced to leave after Brexit.
