bunq, one of Europe’s neobanks, is expanding bunq Crypto by (claiming to) becoming the first European challenger to launch flexible crypto staking, empowering users “to earn rewards on their digital assets, with full flexibility and no lock-up periods.”
Building on the launch of bunq Crypto in April, staking will “be available in the Netherlands, France, Spain, Belgium, Italy, Ireland, Germany as well as the wider EEA region.”
Users of the challenger bank can “access crypto services offered by crypto trading platform, Kraken and are able to earn up to 10% annually on selected cryptocurrencies, by helping to validate transactions on blockchain networks.
bunq’s latest research shows “nearly 65% of users say not knowing when to buy or sell is their biggest barrier to making a profit on their digital assets.”
To solve this, the neobank now offers “flexible staking that allows users to earn rewards on their crypto without having to worry about timings or restrictive lock-up periods.”
Their users have been asking for “a simple way to grow their crypto.”
Joe Wilson, Chief Evangelist at bunq said:
“With flexible staking, they can now earn on the crypto they already own while keeping the freedom to buy, sell, or unstake anytime. We’re proud to be the first neobank to bring this to Europe.”
The news follows bunq’s announcement on “applying for a broker dealer license, fast-tracking its entry into the US market as part of its global expansion plans.”
It’s worth noting that there are many more platforms now offering digital assets trading, staking, and investing services. And many of these service providers now have a lot of industry experience when it comes to offering such services. That’s why relative newcomers like bunq will have to compete more seriously in order to make a meaningful impact.
While it can be challenging to offer crypto trading and staking services, the market is still growing fast and there could potentially be many more people trading and investing in crypto-assets in the coming decade.
