bunq, Europe’s second‑largest neobank, today announced a crucial step in its U.S. expansion strategy by filing for a broker‑dealer license with FINRA and the SEC. This marks the first phase of a two‑step plan to enter the American market: gathering operational insights and user feedback under the broker‑dealer regime, before reapplying for a full banking license later this year.
By securing broker‑dealer status, bunq will be able to offer U.S. customers access to stocks, mutual funds, and ETFs, alongside cash‑management tools that automatically sweep balances into FDIC‑insured accounts. The mobile bank’s partnership with Mastercard will also enable it to issue debit cards to American users, further broadening its service suite.
Targeting a digitally nomadic community of nearly five million comprising expats, international entrepreneurs, and remote professionals bunq aims to replicate the success that propelled it to 17 million users in Europe and delivered two consecutive years of profitability. In its recently published annual accounts, the company reported €85.3 million in 2024 profits, all earmarked for reinvestment to accelerate global growth.
“Our users live an international lifestyle, and they need a bank that’s global too,” said Ali Niknam, founder and CEO of bunq. “As we grow, it’s clear how much they need a bank that works for them, wherever life takes them. That’s why we’re fast‑tracking our entry into the U.S. Today’s step brings us closer to making that vision a reality.”
bunq now awaits regulatory approvals on its broker‑dealer application, while continuing discussions to fortify its global offerings. The successful completion of this first phase will set the stage for a full U.S. banking license application, anticipated before the end of 2025.
