Dutch digital bank bunq has been granted approval by the Financial Industry Regulatory Authority (FINRA) to operate as a US broker-dealer.

The move marks the neobank’s first operations in the US market.

The licence will allow bunq to bring its US stocks offering to American users and give them access to self-directed investing, including mutual funds and ETFs, as part of its wider product roll out.

bunq, which describes itself as Europe’s second largest neobank, said that it is expanding to bring its services to the millions of digital nomads, expats, international entrepreneurs, and remote professionals with ties to both sides of the Atlantic, adding that its approach has already attracted more than 20 million users across Europe.

“Our users roam the world – they live, work, and travel across borders,” said Ali Niknam, founder and chief executive of bunq. “For many, the US is an important part of their lives. That’s why we’re excited to bring bunq stateside and make life easy for Americans and anyone who calls it home.”

The company has also set its sights on the UK, applying for an EMI license as part of its ongoing international expansion.

In September, bunq was reportedly looking for “digital nomads” to hire as it sought to add over 700 employees to its current headcount.

As it seeks to establish its business in new locations where other large FinTechs such as Revolut and Monzo currently operate, it will need an increase its workforce to establish and strengthen its presence.

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