KBC Group is preparing to offer Belgian retail clients the opportunity to invest in major cryptocurrencies this fall, local media has announced.
With this move, large financial services companies have taken the lead among Belgian banks.
KBC allows cryptocurrency trading via bolero
Belgian bank KBC will allow retail customers to trade Bitcoin (BTC) and ether (ETH) through investment platform Bolero in the coming months, Belga News Agency reported on Wednesday.
This initiative is the first in Belgium, with traditional banks reluctant to enter the crypto market, with Belgian investors relying on global trading venues such as Coinbase and Binance, and using neobank services such as Revolut and Bunq.
Other major Belgian banks, such as Belfius, ING and BNP Paribafortis, remained cautious, noting that only state-owned Belfius has so far been interested in exploring crypto via its rebellion platform.
According to an article published by Flemish Daily de Tijd, KBC is currently approved by the regulatory authority, which operates as a cryptocurrency service provider.
The bank shows that its offer will focus on investor education, security and regulatory compliance. The financial authorities are expected to illuminate it green by autumn, the Dutch newspaper added.
The group is digging into crypto as the European Union market is enforced by the Cryptocurrency Assets (MICA) Act.
KBC's decision to promote crypto trading for retail clients is intended to address the growing interest of investors in Venerax's cryptocurrency, particularly among younger Belgians, media reports say.
A survey conducted by the Belgian Financial Services and Markets Agency (FSMA) showed that 43% of Belgian investors under the age of 29 have already purchased crypto. Such investors' share increases to 45% in the age segment under 30.
European banks gather in crypto markets
KBC is participating in other European banking institutions preparing for a similar move by moving on its path to entering the cryptocurrency market.
According to Bloomberg, Deutsche Bank has finalized a project to launch Crypto Custody Service in 2026. In another report this week, the news agency revealed that German giant Spamasen Finanzgrappe will enable users of banking apps to trade cryptocurrency within a year.
Meanwhile, UnicRedit, one of Italy's top banks, is launching an investment certificate dragged into five years of dollars related to BlackRock's Ishares Bitcoin Trust ETF. This product is targeted at professional clients and offers capital protection at maturity.
KBC Group, Belgium's second largest banking insurance company, focuses on serving Belgian private clients and small businesses, but also serves several developing markets in Central and Eastern Europe, including Bulgaria, the Czech Republic, Hungary and Slovakia.
Financial industry players in the CEE region have also witnessed a rapid rise in interest in crypto investment opportunities. In response, PZU, Poland's largest insurance company, announced in May that it would provide a Bitcoin fund to ensure Polish investors are exposed to major cryptocurrencies under EU regulations.
The PZU movement arises despite challenges stemming from delays in implementing the latest regulations in Europe in the country. New pushes in Warsaw have caught the local crypto community by converting EU law into domestic law.
Industry members fear that the standards their government drafts are actually stricter than Maica and exceed what Brussels prescribe. Representatives from the Crypto sector warn that future Polish regulations will force small domestic crypto companies to look for more favorable terms overseas, while supporting larger foreign companies.
