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The Dutch Digital Bank Bunq is upgrading re -entering the UK to enter the “big and insufficient” market about 2.8 million British “digital nomads”.
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On Tuesday, the Dutch Digital Bank Bunq said it was submitted to the US broker in the US, as it is supposed to continue expanding throughout the Atlantic.
Bunq CEO Ali Nickni said the application’s Deller’s application would be the initial step to ensure a full bank license. He could not offer a hard scale if Bunq would provide this permit in the US – but said he was delighted with growth prospects in the country.
Getting a Bunq BunQ license can offer that Bunq can offer our users who have an international trace-demographic demographic demographic to which we strive-great amount of our services, “-said CNBC. Bunq basically serves” digital nomads “, people who can live and work from any point of distance.
Bunq will be able to offer most of its services in the US, except for a savings account after providing permission of the broker-dealer, added.
Bunq, which calls itself a bank for “digital nomads”, currently has a bank license in the European Union. He applied for an electronic monetary facility (EMI) in Bunq’s UK previously operated in Britain, but forced to leave the country in 2020 from Brexit.
BunQ initially applied to the US Federal Bank in April 2023. However, he withdrew his statement a year later, citing problems between his Dutch regulator and US agencies. The company plans to send its application for a full license for banking in the United States late this year.
65% Update Jump
In addition to the international extension update, BunQ also announced a 65% jump on Tuesday compared to 85.3 million euros (97.2 million). This leap was primarily due to an increase in pure interest income by 55%, while net income also increased by 35%.
Like Fintech’s colleagues such as N26 and Monzo, Bunq took advantage of a high interest rate, transferring exits to customer deposits sitting in the Central Bank.
The Bunq CEO said CNBC that although high interest rates have certainly helped, more Bunq, there was an increase in the use of the platform and was focused on economic efficiency in terms of operational.
“Because we are so thin and vile, and because we created all our systems from scratch … We were not only able to increase profits, but also offer very good interest rates on the European market as a whole, and in the Netherlands,” – said Nickno.
Recently, the Central Banks in the EU and the UK and the US have moved to a decrease in interest rates in response to inflation and economic slowing problems that can bite the profit from banks.
Nickname said he was not concerned about the prospect of reducing rates and expects that the potential decrease in interest revenue would be offset by a “diversified” income mixture, which includes profit from paid subscription products, as well as new features. Bunq recently launched Tool that allows users to trade stocks.
“This is different in continental Europe in the UK, we have long had negative interest rates,” said CNBC. “So, since we grow, in fact our expenses are also growing because we had to pay for all the deposits that people made to Bunq, so I think we are in a great position in 2025.
BunQ opposes a pile of competition, especially in the US market. America has already been served by consumer banking giants, including JPMorgan Chase, Bank of America, Wells Fargo and Citigroup. It also lives several major Fintech brands such as Chime and Robinhood.
