rewrite this title Blockrise Looks to bunq for Financial Infrastructure – Finovate

bunq is launching a live BaaS use case, partnering with Blockrise to offer Bitcoin-friendly bank accounts with embedded banking services.

Blockrise users will gain regulated banking benefits, including fiat deposit protection up to €100,000 under the Dutch Deposit Guarantee Scheme via bunq’s license.

BaaS enables crypto–bank convergence in which banks provide compliant infrastructure while crypto platforms own the customer relationship.

European neobank bunq is going live with its BaaS offering, partnering with Bitcoin platform Blockrise to offer users Bitcoin-friendly bank accounts. 

Netherlands-based Blockrise users will gain access to Bitcoin services alongside embedded bank accounts. By leveraging bunq’s European banking license, fiat deposits will be protected up to €100,000 under the Dutch Deposit Guarantee Scheme.

“Up to now, Dutch Bitcoin users had to choose between security and convenience. With bunq’s infrastructure, they get both—a bank account that works seamlessly with Bitcoin, protected by the Dutch Deposit Guarantee Scheme,” said Blockrise Founder and CEO Jos Lazet. “We are proud to be the first-ever Bitcoin platform that is able to offer full bank accounts to our clients.”

The partnership marks the first live use case of bunq’s BaaS offering, which integrates bunq’s financial infrastructure into a business’ existing product by building on bunq’s open API. bunq anticipates that its BaaS service will offer users better, safer products. Because bunq handles the complex compliance and security requirements involved in offering bank accounts, businesses are able to focus on their core competencies and move with more agility.

The collaboration also reflects a convergence between traditional banking and digital asset platforms. As regulatory frameworks mature in Europe, licensed banks like bunq are becoming key enablers for crypto firms looking to offer more complete financial services. With BaaS-crypto partnerships, banks provide the compliant infrastructure, while crypto platforms own the customer relationship, which blurs the line between decentralized finance and centralized finance.

Founded in 2012, Amsterdam-based bunq offers both retail and commercial accounts with a range of tools, including budgeting and term deposits for consumers, and expense management and payment acceptance tools for businesses. Earlier this year, bunq applied for a US banking license for the second time, after it withdrew its original application in 2023.

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