Dutch bank Bunq plans to accelerate plans of expansion into the United States

The Dutch online bank Bunq wants to accelerate its efforts to become involved in the U.S. market. The bank of founder and CEO Ali Niknam has filed a so-called broker-dealer registration with the American regulators, the FINRA and the SEC.

Because of this, Bunq can already help American customers with other stocks and financial services while awaiting the results of a banking license. Bunq already submitted a request to work in the American market in April 2023.

“It has always been our dream to expand to the United States,” said Niknam, who founded Bunq in 2012. The broker-dealer license would make it possible for Americans to invest in things like stocks or investment funds via Bunq. The bank is also going to produce American debit cards in collaboration with the credit card company Mastercard.

Bunq will mainly focus on “digital nomads” who work at a distance while traveling. Currently, 17 million people in Europe use the bank and Bunq is active in 30 countries.

Over the last year, Bunq made over 85 million euros in profit, a 65 percent increase compared to 2023. It was the second year in a row that Bunq generated a profit.