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.

AccessTimeIconMar 25, 2022 at 9:37 a.m. UTC
Updated Mar 25, 2022 at 2:24 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

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.

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.

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Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.