Dutch neobank Bunq—Europe’s second-largest with 17 million users—has filed for a U.S. broker–dealer license with FINRA and the SEC, marking the first phase of its U.S. expansion strategy. The move follows a previously withdrawn federal bank charter filing and is designed to give Bunq operational experience and customer feedback before pursuing a full banking license later this year c-pymnts.com.
By securing broker–dealer status, Bunq will be able to provide U.S. customers with stock, ETF, and mutual fund investments, cash-management tools linked to FDIC-insured accounts, and Mastercard-backed debit cards—excluding savings account functionality until the full license is secured americanbanker.com. CEO Ali Niknam emphasized that this phased strategy allows the neobank to “gather operational insights and user feedback” while adapting its user-centric European model to American needs press.bunq.com.
This expansion builds on Bunq’s recent financial strength—posting €85.3 million in net profit in 2024 (a 65% YoY increase), driven by rising net interest and fee income press.bunq.com. The firm’s founders highlight the advantage of owning its entire stack, enabling end-to-end product delivery and full regulatory control—vital for maintaining user trust and compliance bankingdive.com.
📌 Why It Matters:
- Showcases strategic, measured U.S. entry for a major European neobank
- Enables Bunq to enter U.S. investment and payments markets ahead of full charter
- Reinforces pattern of profitable, regulator-aligned fintechs expanding globally
