Cryptocurrency trading expands in Germany as Bunq introduces support for over 350 digital assets.
Bunq, a Dutch neobank, is expanding its services in Germany, introducing Bunq Crypto for MiCA-compliant cryptocurrency investment. This move is made possible through a partnership with Kraken, a well-established and secure crypto exchange, which holds one of the few MiCA licenses in Europe.
The partnership allows Bunq users in Germany to buy and manage cryptocurrencies directly within the Bunq banking app, without the need for additional accounts or third-party platforms. Investments can start as low as €1, making crypto trading accessible to a wider audience.
While specific fee details for trading were not explicitly stated, Bunq Crypto, powered by Kraken, offers an easy-to-use platform integrated into the banking app, suggesting competitive or streamlined fees typical of neobanks and cryptocurrency exchanges.
Security is a top priority for Bunq Crypto. The service includes the "Safety Shield" feature, which holds withdrawal amounts for 24 hours to prevent impulsive sales or fraudulent transactions. Real-time price alerts are also available to help users stay in control of their investments and protect them from sudden market changes.
Bunq is regulated by the Dutch Central Bank (DNB) and the Central Bank of Ireland, reflecting strong oversight in its operations. Kraken's MiCA license also implies adherence to strict European cryptocurrency regulations, enhancing security and compliance.
Tom Bilske, Head of New Products at Bunq, stated that Bunq's users have long desired a simple way to invest in digital assets. The new service, Bunq Crypto, aims to address the needs of Europeans who find existing crypto offerings too technical or confusing, especially beginners.
Bunq remains a fully licensed bank with deposit protection of up to 100,000 euros per customer. Kraken Embed, a proven infrastructure, is being used for the technical implementation of Bunq Crypto.
65% of Europeans surveyed by Bunq expressed interest in a platform that combines banking, savings, and crypto investments. Bunq Crypto allows customers to save, spend, and invest in cryptocurrencies all in one place.
The service is launching in Germany, with plans for a Europe-wide rollout within the European Economic Area by the end of 2025. Bunq is also working on regulatory approvals for the British and US markets, including a broker-dealer license in the United States.
Trading fees for Bunq Crypto range from 0.25 percent for Elite subscribers to 1.99 percent for Free subscribers, which is relatively high compared to competitors. Customers can enable or disable the "Safety Shield" feature in the app. Bunq Crypto is compliant with the EU's MiCA (Markets in Crypto-Assets) regulation.
This partnership simplifies crypto access for Bunq users while ensuring regulatory compliance and incorporates protective features to safeguard users’ investments.
Investments in cryptocurrencies can now be made directly within the Bunq banking app due to a partnership with Kraken, a secure crypto exchange. This new service, Bunq Crypto, is designed to provide a simple way for beginners to invest in digital assets, while maintaining regulatory compliance and offering protective features for security.
