The bank announced that it is launching a cryptocurrency trading platform in compliance with the European Union's MiCA (MiCA) regulation.
All transactions and storage of virtual assets will be carried out exclusively within KBC's architecture, bank representatives assured.
"This will allow Belgian investors to invest in cryptocurrencies in a fully regulated environment, and this will be the first such case in the country," assured Erik Luts, Chief Innovation Officer at KBC Group.
The top manager reported that KBC has filed a notification to the Financial Services and Markets Authority (FSMA) and the National Bank of Belgium (NBB) regarding the provision of cryptocurrency trading services.
KBC manages assets of €384 billion and offers a range of traditional financial services: loans, deposits, insurance, investments, asset management, and payments. KBC's main markets are Belgium, the Czech Republic, Slovakia, Hungary, and Bulgaria. The bank also had assets in Poland and Russia, but ceased operations in both countries in 2013, focusing on the more profitable markets of Central Europe.
Earlier, Germany's second-largest bank by assets, DZ Bank, announced the imminent launch of its own crypto wallet, meinKrypto. The bank's clients will be able to invest in cryptocurrency through the DZ Bank mobile app.