Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a "large and underserved" market of some 2.8 million British "digital nomads."
Bunq, known for its rainbow-colored cards and a focus on so-called "digital nomads" not bound by any one country or location, initially launched in the U.K. in 2019.
The passage of Brexit into law meant that EU-based financial institutions couldn't rely on their own country authorizations to operate in the U.K. market.
Currently, Bunq only holds a banking license with the Dutch central bank.
Challenges of reentering UK market
Persons:
Pavlo Gonchar, Ali Niknam, it's, Niknam
Organizations:
Getty, PARIS, CNBC, Viva Tech, reentering
Locations:
Europe, Paris, U.K