European neobank bunq applies for bank license in the United States
The European neobank bunq, the second largest in the EU, has officially submitted an application for a de novo banking license to the Office of the Comptroller of the Currency (OCC) in the United States. This development came shortly after FINRA approved the company’s broker-dealer license, paving the way for bunq's entry into the American market.
Bunq intends to launch its services in major U.S. metropolitan areas with high concentrations of expatriates and digital nomads, aligning with its business model focused on this target audience. Clients will be able to build their credit history more rapidly in the U.S. by leveraging their European financial data and will have the option to open accounts simultaneously in both the U.S. and the EU, subject to compliance requirements.
CEO and founder Ali Niknam emphasizes that customers living and working across countries need a borderless bank — one that is secure, simple, and flexible. This U.S. expansion takes place against the backdrop of bunq’s second consecutive profitable year, indicating the company's stability and readiness for growth.
