Bunq, a neobank for ‘digital nomads,' accelerates U.S. expansion effort as profit jumps 65% [CNBC]
JP Morgan Chase & Co. (JPM)
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Source: CNBC
Bunq will be able to offer most of its services in the U.S. with the exception of savings deposits after securing broker-dealer authorization. The bank reported a 65% jump in profits year-on-year to 85.3 million euros ($97.2 million), boosted by an increase in interest income. Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a “large and underserved” market of some 2.8 million British “digital nomads.” Dutch digital bank Bunq on Tuesday said it's filed for broker-dealer registration in the U.S. as it looks to further expand across the Atlantic. Bunq CEO Ali Niknam said the broker-dealer application will be an initial step toward securing a full banking license. He couldn't offer a firm timeline for when Bunq will secure this authorization in the U.S. — but said he's excited for its growth prospects in the country. Obtaining a broker-dealer license will mean Bunq “can offer our users who have an international footprint — which is the user demography we'
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