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 May 11, 2023 at 5:57 p.m. UTC

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

Jamie Crawley is a CoinDesk news reporter based in London.

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