AMSTERDAM–The neobank bunq said it is seeking an American banking license.
The company said it has filed for a de novo banking license with the Office of the Comptroller of the Currency (OCC) as it targets “digital nomads,” or customers who live and work between the U.S. and Europe.
“Our users are building their lives across borders, so they need a bank that is safe, secure and easy to use, wherever they are,” Founder and CEO Ali Niknam said in a statement. “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.”
Once the license is approved, bunq said it plans to launch services beginning with U.S. metro areas with large communiities of expats, stating it can help these users quickly build credit, often a challenge for new arrivals, by accessing European financial records.
The Next Phase
The filing with the OCC follows the Financial Industry Regulatory Authority’s(FINRA) approval of bunq’s request for a broker-dealer license, filed earlier this year.
“With the broker dealer license secured and the full banking application submitted, bunq moves into the next phase of its plan to make its full services available to users in the United States,” the company added.
