Belgium’s KBC Becomes First Bank in the Country to Offer Bitcoin Trading to Retail Investors

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Belgium’s second-largest bank, KBC Group, is set t

Belgium’s second-largest bank, KBC Group, is set to become the first bank in Belgium

KBC’s execution-only model

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.

The bank will also provide custody services, meaning clients will not have to manage private keys themselves.

According to KBC, the move is partly driven by demographic trends. Studies cited by the bank indicate that around 45% of Belgians in their thirties already invest in cryptocurrencies.

Bolero’s customer base skews relatively young, with roughly 60% under the age of 40, and “Bitcoin” ranks among the most searched terms on the platform.

Bolero CEO Céline Pfister said the platform aims to introduce crypto “in an accessible way” while ensuring investors are well informed. At launch, educational materials will be made available through the Bolero Academy.

In a similar move, Germany’s second-largest lender DZ Bank secured authorization under the EU’s Markets in Crypto-Assets Regulation earlier last year, enabling it to launch a retail crypto trading platform across the country’s cooperative banking network.

The BaFin-approved “meinKrypto” platform will allow Volksbanken and Raiffeisenbanken customers to trade Bitcoin and other cryptocurrencies directly within their existing banking apps, subject to individual bank notifications.