KBC Bank will become the first Belgian financial institution to offer cryptocurrency trading to retail customers on February 16 through its Bolero investment platform under newly implemented EU regulations.
Belgium's second-largest bank with approximately $300 billion in assets will enable trading of Bitcoin and Ether exclusively through a closed-loop system that prohibits external wallet transfers.
The launch arrives as Belgium's Markets in Crypto-Assets implementation law took effect January 3, designating the Financial Services and Markets Authority and National Bank of Belgium as crypto market supervisors.
Conservative Custody Model
KBC submitted a Crypto Asset Service Provider notification to Belgian authorities, though no Belgian licenses yet appear on the European Securities and Markets Authority's public register.
The bank's closed-loop architecture prevents customers from transferring cryptocurrency to or from external platforms, with KBC maintaining custody of all private keys within its proprietary security infrastructure.
Bolero operates on an execution-only basis without providing investment advice, requiring customers to complete knowledge and experience tests assessing understanding of volatility risks and potential total loss before trading.
Demographic Targeting
KBC cited internal data showing approximately 45% of Belgians in their thirties already invest in cryptocurrency, while 60% of Bolero's customer base falls under age 40.
"Bitcoin" ranks among the most searched terms on the Bolero platform, according to CEO Céline Pfister, who said the bank aims to introduce the asset class "in an accessible way" with educational materials through Bolero Academy.
The initiative follows Germany's DZ Bank launching MiCA-compliant crypto trading for retail customers earlier this month, part of broader European banking sector adoption of digital asset services under unified regulatory frameworks.
Belgian customers previously relied on foreign exchanges like Binance and Coinbase or digital banking apps offering crypto services, with no domestic banks providing direct cryptocurrency access until now.