As of mid‑February, KBC will be the first Belgian bank to offer the possibility to buy and sell crypto through Bolero

Virtual currencies, real risks. The only guarantee in crypto is risk.

As of the week of 16 February, private investors will be able to purchase and sell crypto assets on Bolero, the online investment platform of KBC. This will enable self-directed investors in Belgium to invest in cryptocurrencies within a secure and fully regulated environment, a first in Belgium. With this step, KBC strengthens its position as a digital pioneer and responds to the growing demand for secure crypto investment solutions. 

Regulated crypto investing  

Starting the week of 16 February, Belgian retail investors will be able to trade crypto assets through Bolero in a secure, regulated environment. This will be conducted under the European MiCAR regulations, which provide a framework for crypto service providers. KBC is the first Belgian bank to meet these requirements and has submitted a full Crypto Asset Service Provider (CASP) notification to the competent authority under which the crypto asset services in question may be offered. Private investors will be able to trade both Bitcoin and Ether cryptocurrencies, while always receiving the necessary risk warnings and information. 

Erik Luts, Chief Innovation Officer at KBC Group, explains:"By offering the opportunity to purchase and sell crypto within a regulated framework, we are making innovation concrete and accessible. At the same time, we are demonstrating that KBC remains ready to assume its role as an innovator in a market where new players are rapidly evolving."

Studies¹ confirm strong interest in regulated crypto trading.  Around 45% of Belgians in their thirties already invest in crypto. KBC reaches this target group through Bolero, where 60% of customers are under 40. The term 'Bitcoin' is also one of the most popular search terms on the Bolero website. The bank aims to introduce interested individuals to this new investment category in an accessible way. 

For self-directed investors who prefer to trade in a well-informed way 

Bolero continues to operate according to the execution-only principle. Customers make their own decisions and do not receive investment advice. Before they can start trading in crypto, they are required to take a knowledge and experience test, which assesses whether they are aware of the risks associated with crypto investing. 

Céline Pfister, CEO of Bolero, explains: "We have noticed that digitally oriented customers in particular are interested in this type of product. As a platform for self-directed investors, we offer them complete control over their investments, without advice, but with the necessary support. At launch, we provide educational materials via the Bolero Academy in our apps, so that every investor is well-informed when delving into this new asset class in a familiar environment. As Bolero, we are particularly proud of the further expansion of our offering in the Belgian market."  

Closed-loop model for maximum security 

KBC and Bolero use a closed-loop model to avoid risks related to fraud, money laundering and unauthorized transfers. Customers buy and sell crypto exclusively within Bolero. No incoming or outgoing transfers from/to other platforms are possible.

Strict KYC and KYT procedures apply. Transactions are carried out using funds whose origin is known and verified.  

KBC also offers custody services for crypto coins within its own secure architecture, relieving customers of the risks associated with managing private keys and choosing between different crypto exchanges. Crypto assets are held under strict operational and technical controls. Customers are clearly informed about the possibility of price fluctuations and total loss. 

With this new step, KBC Bank confirms its position as the reference in bancassurance, innovation and digitalisation.

• The value of your virtual coins may go up and down sharply, and the amount you invested may be lost in full;
• Virtual coins are not covered by bank deposit guarantee schemes;
• The virtual coins are entirely dependent on a specific computer technology and infrastructure, which in some cases may be very recently developed and not yet sufficiently tested;
• If the identification code or password allowing access to the virtual wallet in which the virtual coins are stored is lost, those coins will be permanently lost;
• Virtual coins currently have limited acceptance as a means of payment, and in most countries there is no legal obligation to accept them;
• For more information on the risks associated with an investment in virtual coins, we recommend reading the Wikifin page What is a crypto-currency | Wikifin.

¹ ​ The FSMA publishes Retail Investor Survey | FSMA