Belgium’s KBC Bank is set to offer products for cryptocurrency investment to its retail customers through Bolero. Bolero is an online investment offering of KBC that allows its customers to have access to a wide range of financial products in a digital and secure environment. By year-end, pending clearance from regulators, a direct investment in Bitcoin and Ethereum will be provided through Bolero.
The move by KBC follows observed rising European investor interest in cryptocurrencies, particularly in Belgium. The Belgian citizens currently rely heavily on overseas platforms such as Revolut, Binance, and Coinbase when it comes to digital asset investment. With crypto available through Bolero, many retail investors have a preference of using a local and regulated marketplace.
KBC believes it will entice private investors interested in safety, regulation, and a known user experience when working with digital currencies. The website will provide proper investor education and stress strict adherence to the new European regulation of cryptos. KBC aims to wrap up regulator discussions by fall and open the feature to public access at that time.
Bitcoin (BTC) and Ether (ETH) join investment platforms
If it is successful, it will make KBC the first major Belgian bank to have a direct link to Bitcoin and Ether products for investment. This is a first in Belgian financial history, as none of the Belgian banks are provided these products so far. This is a part of a larger picture across Europe, as now banks are incorporating products related to digital assets in their portfolios.
Big institutions like Sparkassen-Finanzgruppe and Deutsche Bank are also preparing to bring out offerings of their own in cryptocurrencies. These are signs that traditional banking systems are gradually accepting cryptocurrencies. This comes following a move by KBC that fits well in this broader transition that is happening across the continent.
By delivering cryptocurrencies through Bolero, KBC is providing a trustworthy alternative to Belgian clients who have been using offshore exchanges so far. The platform reduces the overseas flow of funds, too, thereby limiting both fraud and risk. Although Bitcoin and Ether are still the best-known cryptocurrencies, the bank chose these two as a springboard.
If investor demand grows, KBC can introduce more digital products in the future following this step. The step by KBC may inspire more Belgian banks to follow suit in offering cryptocurrency-based products for investment. When it is launched, it will be a historical event both for the bank and the financial tech sector of the nation.
