Dutch neobank Bunq has received a broker-dealer license from U.S. authorities, allowing its customers to invest in American stocks, mutual funds, and ETFs. A neobank is a type of bank that operates entirely online without physical branch locations. The approval marks a major milestone for the Amsterdam-based bank, CEO Ali Niknam told De Telegraaf.
Bunq has previously filed a broker-dealer registration with American regulators, including FINRA and the SEC. This registration enables the bank to offer American customers investment services while awaiting a full banking license. Bunq had initially submitted a request to operate in the U.S. in April 2023.
“Our users lead international lives and seek a bank that makes their life easier,” Niknam told the newspaper. “That is why we are excited to bring Bunq to the U.S., for the millions of entrepreneurs, expats, and digital nomads who live, work, or have some connection with America.”
Founded in 2012, Bunq has grown rapidly in Europe, increasing its user base from 11 million to more than 20 million over the past two years. It is now Europe’s second-largest neobank.
In 2024, the bank lost 10 million euros due to fraud by customers. Despite these losses, Bunq is pressing forward with international expansion, targeting both the United States and the British Isles. Niknam said the bank is also pursuing a full U.S. banking license, for which the application is still pending.