European challenger bank bunq has received approval from the US regulator FINRA to operate as a broker-dealer in the US market. This marks bunq’s initial entry into the US and is the first phase of its expansion plans in North America.
With this approval, users of the mobile bank will be able to invest in US stocks, mutual funds, and ETFs. This regulatory endorsement follows bunq’s successful financial performance in 2024, marking its second consecutive profitable year.
bunq attributes its focus on the US to the increasing number of users in the region. “Our users roam the world – they live, work, and travel across borders,” stated Ali Niknam, founder and CEO of bunq. “For many, the US is an important part of their lives.”
bunq’s next target is the UK market, for which it has applied for an EMI license.