Dutch challenger bank Bunq is ramping up its crypto offering across the EU by launching a product that allows crypto holders to earn payouts for helping validate transactions on a blockchain. Bunq launched its crypto offering across the Netherlands, France, Spain, Ireland, Italy, and Belgium in April this year.
It is now launching flexible staking across the Netherlands, France, Spain, Belgium, Italy, Ireland, Germany, and the wider EEA region. Staking is a way for investors to earn a passive yield on their crypto holdings by allowing them to earn payouts for helping validate transactions on a blockchain.
Flexible staking means crypto holders don't have to lock up their crypto assets for a specific time and can withdraw them at any time. Bunq, which has over 17m users across Europe, is launching its staking product with crypto exchange Kraken, with whom it partnered on its crypto launch in April this year.
Bunq says users can earn up to 10 per cent annually on cryptocurrencies by helping to validate transactions on blockchain networks.
“Our users have been asking for a simple way to grow their crypto,” says Joe Wilson, chief evangelist, Bunq.
“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.”
Bunq users can trade over 300 cryptocurrencies, including Bitcoin, Ethereum, and Solana. Bunq says users can open an account in seconds.
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