Dutch fintech firm Bunq gets US broker-dealer approval
- ByStartupStory | October 30, 2025
Dutch fintech firm Bunq has achieved a major milestone by receiving regulatory approval to operate as a broker-dealer in the United States. This approval, granted by the Financial Industry Regulatory Authority (FINRA), marks a significant step in Bunq’s ambitions to expand beyond its established European footprint and bring its innovative banking and investment services to the American market.
Bunq’s US Expansion Strategy
Bunq, headquartered in Amsterdam, is one of Europe’s largest neobanks, boasting more than 20 million users across multiple countries. Founded in 2015, the digital bank has differentiated itself through user-centric products emphasizing flexibility, sustainability, and transparency. Its recent broker-dealer license approval positions Bunq to offer investment products such as US stocks, mutual funds, and exchange-traded funds (ETFs) directly to American customers for the first time.
The broker-dealer status allows Bunq to facilitate securities transactions in the US, a critical capability for reaching retail investors looking to self-direct their investment portfolios on a mobile-first platform. The move reflects Bunq’s strategic response to the growing number of international customers, digital nomads, expats, and entrepreneurs who live and work across Europe and the US.
In April 2023, Bunq initially applied for a US banking license with the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC). However, the company withdrew the application after a 301-day waiting period, citing regulatory differences between the Netherlands and US financial authorities. Despite this setback, Bunq’s management remains committed to obtaining a full US banking license in the future and views the broker-dealer approval as an important foundational step on that path.
CEO’s Vision on Global Customer Base
Ali Niknam, founder and CEO of Bunq, highlighted the international nature of Bunq’s clientele: “Our users roam the world – they live, work, and travel across borders. For many, the US is an important part of their lives. That’s why we’re excited to bring Bunq Stateside and make life easy for Americans and anyone who calls it home.” His statement underscores Bunq’s vision of serving customers globally by offering seamless financial services that transcend geographical and regulatory barriers.
Enhancing Investment Access
With the broker-dealer license, Bunq is positioned to deliver a comprehensive suite of investment products to its new US clientele. This includes self-directed investing capabilities in a wide variety of securities, catering to consumers increasingly seeking control over wealth management through intuitive digital interfaces. The product rollout will include access to popular asset classes such as US stocks, ETFs, and mutual funds—elements that have become essential for modern retail investors.
This expansion strengthens Bunq’s proposition as not just a banking service but a holistic financial platform that integrates banking, investing, and personal finance management. Such diversification aligns with global fintech trends aiming to provide end-to-end financial solutions seamlessly via mobile apps.
Overcoming Regulatory Challenges
Bunq’s pathway to US market entry illuminates the challenges fintech companies face when navigating different regulatory ecosystems. The withdrawal of its US banking license application in 2023 demonstrated the complexity of reconciling regulatory expectations across jurisdictions. However, this experience enabled Bunq to recalibrate its strategy and pursue intermediate licensing, such as the broker-dealer approval, providing a legal foothold in the US.
The company expects to reapply for the US banking license “as soon as we can,” indicating ongoing efforts to adapt and align with US banking regulations. This move will enable Bunq to provide a full suite of banking services alongside investment offerings, making it more competitive against incumbents and other fintech challengers entering the American market.
Corporate Governance and Regulatory Compliance
Earlier in 2025, Bunq faced scrutiny from the Dutch central bank, which imposed a €2.6 million (approximately $3 million) fine related to deficiencies in anti-money laundering controls. Bunq has publicly disagreed with the ruling and is taking steps to address regulatory compliance. The company’s willingness to engage constructively with regulators exemplifies its commitment to robust governance necessary when operating across multiple regulatory regimes.
Competitive Landscape in the US Market
Bunq’s US entry places it among a growing roster of European fintechs aiming to disrupt traditional financial services in America. British rival Revolut, which has already established a substantial US presence, is similarly expanding its offering for international users and local customers. The US fintech space is becoming increasingly competitive, with neobanks and challenger banks leveraging technology to attract Millennials, Gen Z, and digital-savvy investors.
Bunq hopes to capitalize on its strong European success and distinctive user experience to carve out market share. Its focus on sustainability, multi-currency accounts, and ethical banking also resonate with contemporary consumer values, potentially differentiating it from some existing players.
Looking Ahead
Bunq’s broker-dealer license approval in the US is more than just a regulatory milestone—it opens the door for the company to deliver a new wave of investment and banking products tailored to a globalized, mobile-first clientele. By layering investment services on top of its existing digital banking platform, Bunq aims to provide a unified financial ecosystem for users navigating personal finance and wealth-building strategies internationally.
As the fintech pursues its US banking license renewal, it will likely deepen its product suite and regulatory engagement, reinforcing its ambition to become a transatlantic neobank. The expanding range of financial choices Bunq offers could appeal strongly to the growing population of expatriates, remote workers, and investors whose lives span continents.
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