Belgium's second-largest bank, KBC, becomes the country's first bank to offer cryptocurrency trading services to retail customers

PANews January 16 News, according to Bitcoin Magazine, Belgium's second-largest bank KBC Group announced that it will offer Bitcoin and Ethereum trading services to retail clients through its online investment platform Bolero, becoming the first bank in the country to provide such services. The service is scheduled to go live in the week of February 16 and will operate within the regulatory framework of the EU Crypto Asset Market Regulation (MiCA).

KBC stated that it has submitted a complete crypto asset service provider notification to regulators. The service will operate in a "execution-only" mode, requiring clients to make their own decisions and complete risk knowledge and experience tests before trading. To reduce fraud and money laundering risks, the platform adopts a "closed-loop" model, where clients can only buy and sell within the Bolero platform, cannot transfer assets to external wallets or exchanges, and the bank provides custody services.