Belgium's second-largest bank KBC has become the country's first bank to offer cryptocurrency trading services to retail investors

According to Bitcoin Magazine, Belgium's second-largest bank, KBC Group, announced that it will offer Bitcoin and Ethereum trading services to retail customers through its online investment platform Bolero, becoming the first bank in the country to provide such services.

The service is planned to launch during the week of February 16 and will operate under the regulatory framework of the EU's Markets in Crypto-Assets (MiCA). KBC stated that it has submitted a complete notification to the regulatory authorities as a crypto asset service provider. The service will operate on a "execution-only" basis, requiring customers to make their own decisions and complete a risk knowledge and experience test before trading.

To reduce the risks of fraud and money laundering, the platform uses a "closed-loop" model, allowing customers to buy and sell only within the Bolero platform, with no ability to transfer assets to external wallets or exchanges, and custody services provided by the bank.