Why KBC Now Sees a Role for Banks in Crypto
For years, crypto was an outsider to traditional finance. Today, reshaped by regulation, it is maturing into an emerging asset class embedded in global financial markets. Mathias Vandermoere, Head of Innovation at KBC Securities Services, explains why KBC is among the first banks in Europe to provide retail investors access to crypto.
Let’s start at the beginning: what is crypto, exactly?
“Crypto emerged in the aftermath of the financial crisis, in a climate of distrust towards traditional financial institutions. Bitcoin was designed as a way to exchange value without relying on a central intermediary. Instead, transactions are recorded across a decentralised network and verified collectively. That is what makes crypto fundamentally different from traditional money or financial assets. There is no central bank standing behind it. Users trust in the security of the network and therefore attach value to it.”
“45% of Belgians in their thirties now holds crypto. That is a market you cannot ignore.”
Mathias Vandermoere, Head of Innovation
If crypto started out as an alternative to traditional finance, why has it become something banks like KBC can no longer ignore?
“Because crypto is no longer something that exists only in a small niche or in online communities. Over the years, it has become much more mainstream than people assume. More and more people started buying and holding crypto, not as a way to make everyday payments, but as an investment product. The SPACE-survey of the ECB showed that in 2024 12% of Belgians held crypto and according to the 2025 FSMA Retail Investor Survey, 45% of Belgians in their thirties invest in it. So there is clearly a market for it. And if clients are looking for access to the crypto market, we believe the question is not whether we can ignore it, but how we can respond in a way that fits with who we are as a well-established financial institution.”
"It’s up to KBC Securities Services to bridge the gap. We are using our expertise to give clients the access they're looking for, while ensuring these new assets are handled with the professional care and safekeeping they deserve.”
KBC has a reputation for trust and reliability. What makes this a market banks can now enter in a credible way?
“For a long time, the crypto market was too loosely regulated for traditional financial institutions to engage with it. There was too little transparency and protection, which gave crypto its ‘Wild West’ image. What changed is that regulation caught up. In Europe, MiCAR introduced a common framework that made the rules of engagement clear. It doesn't take away the volatility of crypto itself, but this regulatory clarity has been a critical enabler: it allows banks and market infrastructures to finally engage with these assets in a controlled and compliant way.
That is one of the central paradoxes in crypto’s evolution. What started as an alternative to the traditional financial system is now being embraced by those same institutions. That shouldn’t come as a surprise. It’s part of a pattern. As soon as an asset class starts to mature, investors look for trust and reliability. Banks can offer that. Investors no longer have to choose between the potential of crypto and the security of a bank. We are bringing those two worlds together.”
“Crypto started as an alternative to the traditional financial system. Today, it is being embraced by those same institutions.”
Mathias Vandermoere, Head of Innovation
What does a controlled, credible approach to crypto look like at KBC?
“KBC has made some deliberate choices in how we approach this market. We don’t facilitate crypto payments, nor can clients buy traditional financial instruments with it. Instead, we offer crypto strictly as an investment product through our Bolero platform. This choice is intentional: Bolero mainly reaches investors under 40, a group that is often already active in this market.
We also keep the offer limited to the two largest assets, bitcoin and ether. And while we do not provide investment advice or actively promote crypto investments, we do believe investors should have access to the right information and safeguards. That is why Bolero supports clients through educational content via the Bolero Academy and requires investors to complete a knowledge and experience assessment before they can start trading crypto assets. We see it as our role to provide a secure, transparent and regulated environment for clients who wish to access this emerging asset class.”
Where do you see crypto and digital assets going from here?
“Crypto as an asset class is here to stay. The market will continue to evolve, and its exact role may keep shifting, but it is no longer something the financial sector can simply ignore. At the same time, the broader impact may extend beyond crypto itself. Blockchain technology and tokenisation are pushing the entire industry toward 24/5 trading and shorter settlement times. This transition won’t happen overnight, and it certainly won’t follow a straight line. However, over time, digital assets will become more deeply integrated into global finance. Beyond crypto as an investment asset, KBC is also part of the Qivalis consortium. This is a collaboration of leading European banks developing a regulated, euro-backed stablecoin. The launch is expected in the second half of 2026. This initiative further bridges traditional finance and digital assets. For us, the real challenge is finding the right balance: embracing that innovation in a way that remains safe, responsible, and relevant for our clients."
“Through Qivalis, KBC is helping bridge traditional finance and digital assets in a safe, regulated way.”
Mathias Vandermoere, Head of Innovation KBC Securities Services
