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Israel's Bank Leumi to Offer Crypto Trading
The bank is working with New York-based custody and trading platform Paxos to bring the service to customers.
Bank Leumi, one of the biggest banks in Israel, will start to offer crypto trading through its digital platform Pepper Invest, the company said in a press release on Friday.
- Bank Leumi is offering the service in partnership with New York-based custody and trading platform Paxos and will be the first bank in Israel to offer crypto trading services to its clients.
- Customers will be able to buy, hold and sell bitcoin (BTC) and ether (ETH) initially in transactions starting from 50 shekels ($15.49), Leumi said.
- No start date has been provided as of now and the move is subject to regulatory approval.
- "Pepper will collect tax according to the guidelines of the Israeli Tax Authority so that customers will not need to manage tax complexities," Leumi said in the announcement.
- Reuters had earlier reported that Leumi will start to offer crypto trading.
Read more: Bank of Israel Publishes Draft Guidelines for Crypto Deposits
STORY CONTINUES BELOW
UPDATE (Mar. 25, 09:43 UTC): Adds the 'request for comment' disclosure in last bullet.
UPDATE (Mar. 25, 11:15 UTC): Updates sourcing throughout the story.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
