Belgian banking giant KBC Group is set to become the first institution in the country to offer bitcoin trading services to retail clients.
KBC Group, Belgium’s second-largest bank, is preparing to allow its private customers to buy and sell bitcoin for the first time.
Starting from the third week of February, retail investors will be able to access bitcoin trading through Bolero, KBC’s proprietary digital investment platform.
The rollout will take place in full compliance with the European MiCAR regulation (Markets in Crypto-Assets Regulation), positioning KBC as the first Belgian bank to meet the requirements necessary to provide digital asset–related services.
The bank has completed its notification as a Crypto-Asset Service Provider (CASP) with the competent supervisory authority, thereby obtaining approval to launch the initiative.
“By offering the opportunity to purchase and sell crypto within a regulated framework, we are making innovation concrete and accessible,” said Erik Luts, chief innovation officer at KBC Group. “At the same time, we are demonstrating that KBC remains ready to assume its role as an innovator in a market where new players are rapidly evolving.”
The trading service will initially be limited to bitcoin and ether. The adopted model will be “execution-only,” meaning that Bolero clients will make their investment decisions independently, without receiving personalized investment advice.
Before gaining access to trading, clients will be required to pass a knowledge and experience test designed to assess their understanding of the associated risks, including price volatility and the possibility of a total loss of the invested capital.
KBC and Bolero have chosen to implement a so-called “closed-loop” model, designed to minimize fraud and money laundering risks. Clients will be able to buy and sell bitcoin exclusively within the Bolero platform, with no option to transfer assets to or from external wallets or third-party exchanges. The bank will also provide custody services.
According to KBC, the decision to offer bitcoin trading is partly driven by demographic trends. Studies cited by the bank indicate that around 45% of Belgians in their thirties already invest in digital assets.
Céline Pfister, CEO of Bolero, stated that the platform’s goal is to introduce cryptocurrencies “in an accessible way,” while ensuring that investors are properly informed. At launch, educational materials will be available through the Bolero Academy.
