"Belgium's second-largest bank, KBC Group, is set to become the first bank in Belgium to allow retail clients to buy and sell crypto. Starting the week of February 16, private investors will be able to trade Bitcoin through Bolero, KBC's online investment platform. The offering will operate within a regulated framework under the European Union's Markets in Crypto-Assets Regulation (MiCAR), positioning KBC as the first Belgian bank to meet the requirements for providing crypto asset services."
"KBC said it has submitted a full Crypto Asset Service Provider (CASP) notification to the relevant supervisory authority, clearing the way for the launch. The bank framed the move as a response to growing demand from retail investors for regulated access to cryptocurrencies, while emphasizing the risks associated with the asset class. "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 launch will initially be limited to Bitcoin and Ether and will follow an execution-only model. Bolero customers will make their own investment decisions and will not receive personalized investment advice. Before being allowed to trade crypto, clients must complete a knowledge and experience test designed to assess their understanding of the risks, including price volatility and the possibility of total loss, the bank said. KBC and Bolero are adopting a so-called "closed-loop" model aimed at reducing fraud and money-laundering risks. Customers will only be able to buy and sell crypto within the Bolero platform, with no ability to transfer assets to or from external wallets or exchanges."
KBC Group will open regulated cryptocurrency trading to retail clients via its Bolero platform starting the week of February 16. The initial offering covers Bitcoin and Ether and follows the EU Markets in Crypto-Assets Regulation (MiCAR). KBC submitted a full Crypto Asset Service Provider (CASP) notification to the supervisory authority to enable the launch. Trading will be execution-only, requiring clients to complete a knowledge and experience test and make their own investment decisions without personalized advice. KBC and Bolero will use a closed-loop model and provide custody services to limit fraud and money-laundering risks and prevent external transfers.
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