Bunq bags US broker-dealer licence in Stateside push
Dutch challenger bank Bunq has secured a US broker-dealer license, marking a significant step in its expansion into the American market. This move allows Bunq to offer its stock trading services, including ETFs, to US users, furthering its mission to cater to tech-savvy customers who frequently operate across borders. The granting of this license by the Financial Industry Regulatory Authority (FINRA) is a crucial milestone in the company's US strategy. The broker-dealer license enables Bunq to provide trading services to US customers, building on its existing European presence, where it already serves over 20 million users. While it aims to apply for a full US banking license as soon as possible, Bunq previously withdrew its application, citing issues between Dutch and US regulators. The company, which already holds an EU banking license, is also seeking a UK EMI license, showcasing its commitment to global expansion. This expansion affects both Bunq’s existing European customer base and potential US clients, especially digital nomads and those who conduct cross-border financial activities. It also highlights the growing competition in the fintech sector, as challenger banks seek to offer comprehensive financial solutions worldwide. Bunq’s US push demonstrates its commitment to providing accessible and flexible financial services to a global clientele.
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