Amsterdam-based bunq, a neobank, on Monday announced that it has rolled out a new update, Update 26, in Amsterdam.
As a part of the update, the Dutch neobank launched Stocks — a new investment product designed particularly for digital nomads.
The move comes in light of bunq’s research that 47 per cent of European digital nomads are already actively investing, while 41 per cent are considering starting in the next 12 months.
Why bunq Stocks?
Unlike traditional brokerages, bunq aims to take the complexity out of investing, allowing digital nomads to invest in the most popular stocks and ETFs.
In a simplified manner, Stocks will have a curated list of the most popular US and EU public companies and straightforward, global multi-asset ETFs through bunq’s partner Ginmon.
With this platform, users can open an investment account within seconds, and buy and sell stocks in fractional shares as low as €10.
In the first three months, all trades are free.
Ali Niknam, founder and CEO of bunq says, “Investing in stocks should be as effortless as making a payment or checking your balance. That’s why we’ve designed the simplest way to start investing, allowing our users to buy shares of the world’s most exciting companies in seconds.”
Currently, Stocks will be available in the Netherlands and France in beta and will be gradually launched throughout the rest of Europe.
Upvest provides the investment infrastructure for fractional trading and custodial services, ensuring efficient and secure transactions for end users.
In addition to Stocks, bunq announced several updates as a part of Update 26.
Finn, bunq’s AI money assistant can give ultra-personalised budgeting tips as well as recommend bars and restaurants in the area.
Alongside this, bunq has introduced an eSIM for frequent travellers.
Activated from the bunq app, the eSIM will give digital nomads uninterrupted internet access in 160+ countries, helping them save up to 90 per cent on roaming costs.
In May, the Amsterdam neobank also introduced a worldwide one-time activation travel insurance in collaboration with Qover, a global embedded insurance provider.
