Dutch neobank bunq has become one of the most popular digital banks in Europe, and its second attempt to crack the US may turn out more favourably than last time.
European neobank bunq has filed for a US ‘de novo’ banking licence in its latest step to becoming a regulated US bank.
bunq filed its application with the Office of the Comptroller of the Currency (OCC), according to a statement published today (January 7), after receiving a broker-dealer licence from the Financial Industry Regulatory Authority (FINRA) in October 2025.
If the licence is accepted by the OCC, bunq says it is aiming to create a “seamingless digital banking experience for digital nomads travelling workers in-and-out of the US to Europe”, providing services such as secure digital payments, strong authentication, and AI fraud detection.
The neobank, which is the second-largest in Europe behind Revolut, cited market opportunities pertaining to digital nomads being underserved by financial systems in its pursuit of becoming a fully-fledged US bank.
bunq will launch its services in US metropolitan areas with large expat communities in places where workers most typically work and travel to. The company aims to help those digital nomads who struggle to access European financial records and assist in building early credit scores in the US.
Speaking to Payment Expert, a bunq spokesperson said the neobank is not disclosing a breakdown of where its services will be available at this time.
“bunq serves both digital nomads and people with ties to Europe and the US, including expats. While these groups overlap, they’re not identical, and the latter is broader,” the spokesperson explains. “For that reason, while bunq will launch its services starting in US metropolitan areas with large expat communities, we’re not disclosing a city-by-city breakdown at this stage.”
A return to the US
The OCC filing follows the broker-dealer licence approval from last October in bunq’s goal to become a US bank, a strategy that began in 2023.
The Dutch native neobank filed its initial application to the OCC and Federal Deposit Insurance Corporation (FDIC) in April 2023. However, due to a “difference of views” between US and Dutch regulators.
bunq ultimately withdrew the application in February 2024.
Despite this, bunq vowed to re-attempt to enter the US market which came during a time of transition at the Oval Office, as Donald Trump was elected for his second term as President in November 2024.
Trump’s time in office has seen his administration enter into a deregulation strategy across US regulatory agencies, including the OCC. This saw a reduction in regulatory scrutiny for foreign banks seeking to enter the US, which has also seen the likes of Nubank apply for as a national association, as well as crypto companies such as Coinbase and Ripple as national trust charter banks.
bunq completed the first phase of its US market entry with its successful broker-licence acquisition, with the de novo banking licence part of the next phase of its plan to make its full services available in the US.
“Our users are building their lives across borders, so they need a bank that is safe, secure and easy to use, wherever they are,” Ali Niknam, Founder and CEO of bunq.
“We want to give them the freedom to live the way they want, whether they’re heading to America, coming to Europe, or moving between both.”
bunq also has eyes on the UK
Available in 30 European markets, bunq has yet to receive clearance from the UK’s Financial Conduct Authority (FCA) for a full launch of its financial services in the UK.
As a result, bunq currently operates under restrictive measures, such as opening new personal and business accounts, investment options and reopening accounts once terminated. This was introduced on January 1, 2021 when Brexit became effective.
However, bunq have strategised a move to re-enter the UK with a full operating licence. The Dutch neobank is seeking an Electronic Money Institute (EMI) licence from the FCA and filed its application in January 2024.
An EMI licence would enable bunq to offer digital wallets, prepaid cards, payment account services for handling deposits and withdrawals, as well as the ability to process funds, direct debits and credit card transfers.
bunq revealed it has “set its sights on a UK EMI license”, as CEO Ninam provided an update, stating: “we’re continuing to await regulatory approval and will keep you posted as we progress through the regulatory process and prepare for roll-out.
