Spain-based Bnext has announced it will shut down consumer banking services on 13 April 2026, transitioning to a B2B financial infrastructure model.
Following this announcement, the digital financial services provider, which operates under an Electronic Money Institution licence, cited increasing competitive pressures and regulatory complexity as key factors behind the strategic pivot. The company will cease offering consumer accounts and payment cards in order to focus on enabling other firms to launch payment products through its technology platform.
Current users will retain full access to accounts and linked cards until 12 April 2026. All remaining balances in accounts not emptied before the closure date will be transferred to an abandoned balance account, where funds remain legally protected and accessible for up to 20 years under Spanish regulation.
Regulatory structure and strategic repositioning
According to the announcement, as an Electronic Money Institution, Bnext has been authorised to collect customer funds, maintain accounts, and issue payment cards without holding a full banking licence. This regulatory framework has allowed the company to operate in the consumer payments space alongside traditional banks and other fintech providers.
Officials of the institution acknowledged that market dynamics have shifted considerably since the company's launch. The decision to exit consumer services reflects broader challenges facing European neobanks, including tighter regulatory oversight and intensified competition from both established financial institutions and newer market entrants.
With this in mind, the company plans to apply its existing technology and regulatory infrastructure to serve corporate clients and institutions seeking to deploy payment solutions. Moreover, this B2B approach will allow businesses to launch payment products under a regulated framework without building the underlying infrastructure independently.
Token utility under review
Bnext previously offered B3X, a utility token designed to provide cardholders with fee reductions. The company is now evaluating whether alternative uses for the token remain viable following the closure of consumer operations. No timeline has been provided for a decision on the token's future.
In addition, the shift from consumer-facing services to infrastructure provision aligns with a broader trend among fintech firms seeking sustainable business models amid margin pressure and evolving compliance requirements across the EU. Through the process of focusing on enabling other companies to enter the payments market, Bnext aims to monetise its platform capabilities and regulatory status without the operational costs associated with direct consumer engagement.
