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KBC, one of Belgium’s largest banks, will begin offering bitcoin and ether trading to retail investors on Feb. 16, becoming the first Belgian financial institution to launch crypto services under the EU’s Markets in Crypto-Assets Regulation (MiCA).
Customers will be able to buy and sell cryptocurrencies through Bolero, KBC’s online investment platform, using the bank’s proprietary custodial infrastructure. The rollout comes weeks after Belgium’s national implementation of MiCA took effect on Jan. 3.
“This will enable self-directed investors in Belgium to invest in cryptocurrencies within a secure and fully regulated environment, a first in Belgium,” — KBC, in its official announcement published on the bank’s corporate website.
KBC said its crypto trading service has been developed specifically to align with the Belgium MiCA framework, which governs custody, disclosure, and consumer protection standards for crypto asset service providers. According to the bank, crypto trading on Bolero will be supported by a proprietary custodial solution rather than third-party infrastructure.
The bank also confirmed that it has submitted a formal crypto asset service provider (CASP) notification to the relevant authority, a procedural requirement under MiCA. While MiCA allows firms to operate once notifications are accepted, full licensing depends on national implementation and supervisory approval.
“By offering the opportunity to purchase and sell crypto within a regulated framework, we are making innovation concrete and accessible,” — Erik Luts, Chief Innovation Officer, KBC Group, said in the announcement.
KBC first disclosed its intention to introduce Bitcoin and Ether trading in July 2025, pending regulatory clearance. The launch date now coincides with the activation of the Belgium MiCA framework, which provides the legal basis for such services to operate domestically.
However, KBC did not specify whether it coordinated with the Financial Services and Markets Authority (FSMA) or the National Bank of Belgium (NBB), the two institutions designated to supervise crypto markets under the new regime.
While MiCA entered into full application across the European Union in late 2025, Belgium lagged behind several member states in implementing its national legislation.
The Belgian law transposing MiCA was published in December 2025, with the Belgium MiCA framework becoming legally effective on Jan. 3, 2026, according to the Belgian Official Gazette.
The law formally appointed the FSMA and the NBB as the competent authorities responsible for crypto market supervision, including licensing, enforcement, and prudential oversight.
Despite this, Belgium has not yet issued any MiCA licenses, based on the public register maintained by the European Securities and Markets Authority (ESMA).
This regulatory gap has raised questions about timing and oversight, particularly as firms begin rolling out services under transitional provisions.
Market participants note that while MiCA harmonizes rules at the EU level, national authorities retain significant discretion during the early implementation phase of the Belgium MiCA framework.
For banks like KBC, the launch reflects a calculated bet that early compliance positioning will provide a competitive edge once formal licensing accelerates.
Belgium’s delayed rollout of the Belgium MiCA framework comes as broader tensions emerge across the EU over how crypto markets should be supervised.
A central point of contention is whether MiCA licenses granted in one member state should automatically be “passported” across the bloc.
France has been among the most vocal supporters of granting ESMA direct supervisory authority over large crypto firms, arguing that fragmented oversight could expose the EU to systemic and sovereignty risks.
French officials have warned that some firms may seek approval in jurisdictions perceived as more lenient, potentially undermining regulatory consistency.
By contrast, countries such as Malta have pushed back against further centralization, warning that excessive supervisory consolidation could weaken Europe’s competitiveness and stifle innovation within the crypto sector.
These debates are closely watched by banks and institutional players entering the market under national regimes like the Belgium MiCA framework, where regulatory clarity remains a moving target.
For now, KBC’s rollout signals a cautious but significant shift: traditional banks are no longer waiting on the sidelines for crypto regulation to mature.
Instead, they are positioning themselves early within MiCA’s boundaries, even as Europe continues to debate how those boundaries should be enforced.
As the Belgium MiCA framework transitions from legislation to practice, the success of KBC’s initiative may serve as a test case for how regulated crypto adoption unfolds across the EU’s banking sector.
