Kraken for Crypto Service is Taped by German Neobank Bunq

According to a press release released on Tuesday, the Netherlands-based neobank bunq announced that users can now make use of a Kraken-powered company to invest in cryptocurrencies.

Users of the service were able to participate in over 300 electronic goods through the company, according to Kraken, which was available in people in six European countries, including France, Ireland, Italy, and Spain.

According to an annual report, Bunq had$ 8 billion in person deposits in 2024. Its site claims that customers can “hit the earth running” with their bank accounts creation and creation in five minutes, as well as the ability to provide a tax ID at a later time. Digital bedouins, who work remotely and traveling internationally, are the company’s main focus.

Neobanks are completely digital, offering consumers without real branchesAccording to , Bunq acquired the French finance Tricoun in 2022, making it the second-largest neobank in the European UnionAccording to Bunq, there are now 17 million people in Europe.

Users of Bunq’s platform could skew Kraken’s most important data, as the exchange is officially considering a public offering in the U.S. next month. According to Kraken’s website, 13 million people worldwide are currently” trusted” by the San Francisco-based exchange.

Bunq launched a service last year that enables users to invest in exchange-traded companies and other products. The company’s goal of being a one-stop shop for customers ‘ money-related needs aligns with the neobank’s CEO, Ali Niknam, in terms of adherence to the company’s goals.

He stated in a statement that “our users around the world have long waited for a clear, safe, and easy way to invest in electronic assets.” All they will ever need, including crypto, is then available on one platform.

Lately, Kraken itself entered the stock-trading industry. The firm announced earlier this month that American consumers would eventually be able to deal over 11, 000 stocks and ETFs commission-free.

Following similar rejections in circumstances against Robinhood and Coinbase, the Securities and Exchange Commission formally dropped its complaint against Kraken next month. Kraken at the time described it as a “wasteful, politically inspired plan” against the crypto industry.

edited by Stacy Elliott.