Dutch digital bank Bunq B.V., headquartered in Amsterdam, announced on 27 October 2025 that it has obtained a licence to operate as a broker-dealer in the United States. This approval marks a pivotal step in Bunq’s strategy to extend its operations beyond Europe and enter the U.S. market.
With this new licence, Bunq becomes authorised to offer U.S. stocks and related investment services to American customers, aligning with its ambition to build a broader financial services footprint across borders.
Licence Details and Regulatory Context
The broker-dealer licence issued to Bunq will allow it to engage in securities trading activities regulated under U.S. rules, thereby enabling the company to provide access to U.S. equities to eligible clients in the country. According to Bunq, this step is intended as a precursor to submitting a full U.S. banking licence application once the firm is sufficiently prepared.
In fact, Bunq had previously applied for a U.S. banking licence in 2023, but later withdrew the application and stated its intention to resubmit when conditions are suitable.
The regulatory environment in the U.S. presents a complex landscape for foreign fintechs, including overlapping state and federal supervision, yet obtaining a broker-dealer licence positions Bunq to navigate that landscape while offering investment services ahead of full banking operations.
Business Profile and Growth Ambitions
Founded in 2012 by entrepreneur Ali Niknam, Bunq has grown into a prominent European neobank offering personal and business accounts, multi-currency features and IBAN support in over 30 countries. The company reports serving more than 20 million users across Europe.
In light of its U.S. ambitions, Bunq’s move into the American market via a broker-dealer licence reflects the increasing globalisation of fintech models and the push by European digital banks to capture new geographies. Their willingness to blend banking and investment services is a strategic differentiator in the evolving financial-services landscape.
Prior Regulatory Issues and Market Competition
While pushing for U.S. expansion, Bunq has faced regulatory scrutiny in its home market. In August 2025, the Dutch central bank imposed a fine of €2.6 million (approximately $3 million) on Bunq for deficiencies in its anti-money-laundering controls; the bank has publicly contested the decision.
On the competitive front, Bunq enters a U.S. market already featuring established neo-banks and fintech rivals, including Revolut, which is likewise pursuing U.S. operations. Bunq will need to differentiate itself through service innovation, regulatory compliance and customer-value propositions to succeed in the crowded field.