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Belgium's second-largest bank KBC becomes the country's first bank to offer cryptocurrency trading services to retail customers
BlockBeats News, January 16th. According to Bitcoin Magazine, the second largest bank in Belgium, KBC Group, announced that it will provide Bitcoin and Ethereum trading services to retail customers through its online investment platform Bolero, becoming the country's first bank to offer such services. The service is scheduled to go live during the week of February 16th and will operate within the regulatory framework of the European Union's Markets in Crypto-Assets Regulation (MiCA).
KBC has stated that it has submitted a full notification to the regulatory authorities as a crypto asset service provider. The service will follow an "execution-only" model, where customers must make their own decisions and complete a risk knowledge and experience test before trading. To reduce fraud and money laundering risks, the platform will operate on a "closed-loop" model, where customers can only buy and sell within the Bolero platform, cannot transfer assets to external wallets or exchanges, and will have the bank provide custody services.
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