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KBC, recognized as one of the largest financial institutions in Belgium, has announced its intention to provide retail investors with access to the cryptocurrency market. Starting next month, the bank will facilitate the trading of Bitcoin and Ether, marking a significant transition for the Belgian banking sector. This new service is scheduled to become available on February 16, allowing customers to buy and sell digital assets directly through the online investment platform Bolero. The initiative represents a strategic expansion into the digital asset space for the bank, which aims to offer these services within its existing infrastructure.
To ensure a secure environment for its clients, KBC will utilize its own proprietary custodial architecture. This technical foundation is designed to manage the storage and security of the digital assets handled through the platform. By integrating these services into its proprietary system, the bank intends to maintain control over the custodial process, rather than relying on external third-party providers for asset management. This move positions KBC as the first Belgian bank to offer a regulated framework for cryptocurrency trading, aligning with the bank’s broader innovation goals. The service will target self-directed investors who are looking to diversify their portfolios with Bitcoin and Ether through a familiar banking interface.
Context
The rollout of these trading services follows a series of regulatory developments in Belgium regarding the European Union’s Markets in Crypto-Assets (MiCA) regulation. KBC had originally planned to introduce Bitcoin and Ether trading via its Bolero platform in July 2025, pending the necessary regulatory approvals that were anticipated by the end of that year. However, the implementation of the national legal framework in Belgium has seen specific timelines. The member state officially published its implementing law for MiCA in December 2025.
Following this publication, the MiCA framework became legally effective in Belgium on January 3, 2026. This legal milestone officially designated two specific Belgian authorities to oversee the crypto asset markets: the Financial Services and Markets Authority (FSMA) and the National Bank of Belgium (NBB). Despite the bank’s claims of compliance with the new European standards, a review of the public register maintained by the European Securities and Markets Authority (ESMA) reveals that Belgian authorities have not yet issued any formal MiCA licenses. This discrepancy highlights the transitional phase the Belgian regulatory landscape is currently undergoing as traditional financial institutions move into the digital asset space.
Impact
The introduction of crypto trading by KBC occurs against a backdrop of significant debate within the European Union regarding the centralized supervision of digital assets. There is ongoing discussion among member states about whether the European Securities and Markets Authority (ESMA) should be granted direct supervisory power over major crypto firms. This debate also involves the concept of “passporting,” which would allow a MiCA license issued in one member state to be used to offer services across the entire trade bloc.
Different nations have taken opposing stances on this issue. France has been a notable advocate for giving ESMA direct oversight of large-scale crypto operations, arguing that a fragmented regulatory approach could pose a threat to the financial sovereignty of the European Union. Furthermore, France has even suggested the possibility of blocking MiCA licenses that have been issued by other member states. This stance stems from concerns that some firms might seek regulatory approval in jurisdictions with more lenient standards to gain access to the broader European market. Conversely, other jurisdictions, most notably Malta, have voiced opposition to such centralized authority. These critics argue that centralizing licensing and oversight could potentially hinder the competitiveness and innovation of the European crypto sector.
Outlook
As KBC prepares for its February 16 launch, the focus remains on its regulatory status and the broader integration of crypto services in Belgium. The bank has stated that it has submitted a full crypto asset service provider (CASP) notification to the relevant competent authority. This notification is a critical step in meeting the MiCA requirements necessary to offer crypto trading services legally. KBC’s goal is to be the first Belgian bank to meet these specific regulatory standards, providing a framework for innovation that remains accessible to the general public.
While the bank moves forward with its plans to offer Bitcoin and Ether trading next month, the actual issuance of licenses by Belgian authorities—the FSMA and the NBB—will be a key metric to watch. The bank has emphasized that its approach will provide a secure environment for investors within a regulated framework, though the current lack of officially issued licenses in the ESMA register suggests that the administrative process is still ongoing. The success of KBC’s proprietary custodial model and its ability to navigate the evolving MiCA landscape may serve as a blueprint for other financial institutions in the region. As the February deadline approaches, the Belgian market will see how retail demand reacts to the availability of digital assets through a major traditional bank.
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