Israeli Bank Leumi To Launch Bitcoin Trading
Leumi will be the first Israeli bank to offer bitcoin and other cryptocurrency trading in partnership with Paxos, pending regulatory approval.Leumi, through its digital investing platform Pepper Invest, seeks to be the first Israeli bank to offer trading of bitcoin and other cryptocurrencies. Pepper has partnered with U.S.-based custody and trading platform Paxos to launch the initiative, which is still pending approval. Pepper might be required to trace cryptocurrency transactions from purchase until an eventual conversion to fiat currency, according to the Bank of Israel.Leumi Bank,....
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Israel’s second-largest bank, Leumi, is launching a cryptocurrency trading service to allow customers of its digital investment platform to trade cryptocurrencies. “The service will allow Pepper Invest customers to buy, hold, and sell cryptocurrencies.”
Major Israeli Bank Launching Crypto Trading Service
Pepper Invest, the digital investment platform of Pepper by Leumi (TASE: LUMI), announced Friday the upcoming launch of its cryptocurrency trading service.
“Pepper will be the first banking platform in Israel … to allow its....
Pepper Invest users can now buy, sell, and hold Bitcoin and Ethereum subject to regulatory approval. Leumi Bank, one of the largest lenders in Israel, reportedly started to accept Bitcoin (BTC) and Ether (ETH) trading.According to a Thursday report by Reuters, Pepper Invest, Leumi's digital platform, partnered with blockchain infrastructure provider Paxos to launch crypto trading. Pepper Invest clients can now buy, sell and hold cryptocurrencies using the new service.The move will only support BTC and ETH before adding support for other crypto assets. In addition, the minimum transaction....
Earlier this week, the Israeli crypto exchange became the first crypto firm in the country to receive a license enabling it to work with local banks. Israeli-based crypto exchange Bits of Gold became the first crypto firm in the country to receive a license from the Capital Markets Authority according to social media posts from the company on Sept. 18.As a result of attaining the license, Bits of Gold will be able to store digital currencies through secured custody in a “Bits of Gold Wallet” they have been working on for some time. It will also start providing a service that enables banks....
According to a Reuters report, Leumi, the biggest banking institution in Israel, has enabled crypto trading. The first bank in this country to provide its users access to this nascent asset class, clients will be able to trade Bitcoin, Ethereum. Related Reading | What FUD? JP Morgan CEO Sees Crypto Going To $5 Trillion In order […]
Israeli business newspaper Globes is reporting that the Israeli government is mulling the possibility of imposing a tax on profits from Bitcoin. The article states that the Israel Tax Authority is considering the move based on the idea that anyone who makes profits from Bitcoin owes taxes. It was unclear how exactly a tax on Bitcoin profits would be levied, though, as Israel has yet to even recognize Bitcoin as an official currency. Israeli Bitcoin exchange Bits of Gold’s CEO, Jonathan Rouach, suggests the tax authority is not prepared for the necessary paradigm shift to even know where to....