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Belgium's Second Largest Bank KBC Becomes First Bank in the Country to Offer Cryptocurrency Trading Services to Retail Customers
Summary: According to Bitcoin Magazine, Belgium's second largest bank, KBC Group, has 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 set to launch during the week of February 16 and will ...
According to Bitcoin Magazine, Belgium's second largest bank, KBC Group, has 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 set to launch during the week of February 16 and will operate within the regulatory framework of the European Union's Markets in Crypto-Assets (MiCA) regulations. KBC has stated that it has submitted a full notification to regulatory authorities as a crypto asset service provider. The service will operate on an 'execution-only' basis, requiring customers to make their own decisions and complete a risk knowledge and experience test before trading.
To reduce fraud and money laundering risks, the platform will use a 'closed-loop' model, where customers can only buy and sell within the Bolero platform and cannot transfer assets to external wallets or exchanges, with the bank providing custody services.
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Link: Belgium's Second Largest Bank KBC Becomes First Bank in the Country to Offer Cryptocurrency Trading Services to Retail Customers [Copy]
