Israel’s largest bank, Bank Leumi, has announced it will be the first Israeli bank to enable cryptocurrency trading, following a partnership with blockchain company Paxos.
Bank Leumi’s digital platform, Pepper Invest, reached an agreement with Paxos that will enable the bank to allow its customers to buy, hold, and sell cryptocurrencies, with Bank Leumi expected to offer this service to its customers in the near future.
The recent partnership between Leumi group, and blockchain infrastructure platform Paxos, resulted in the Israeli bank’s new service. In this early stage, only Bitcoin and Ethereum will be available to trade, and customers will not need to download a crypto wallet but will be able to transact their trading account at Pepper Invest.
Additionally, Pepper Invest customers will not be required to manage their tax under this trading account, as the bank will manage the complexities of this on behalf of their customer.
Bank Leumi’s official statement reads:
“Basit satış prosedürü, şu anda mevcut olan araçları kullanarak kripto para birimlerini cari hesapta bulunan paraya dönüştürmenin mevcut zorluğuyla ilgili önemli bir yeniliktir.”
This new service in Israel, provides users of the Israeli banking system with access to cryptocurrency, in a way that few banks across the world have done. Following regulatory approval, Leumi will be ready to launch their crypto trading service.
Uri Natan, CEO of Pepper, on pioneering crypto trading in Israel, şuraya Bir açıklamada:
“We are proud to be the first in the banking system in Israel, and one of the few in the world, to offer our customers to trade cryptocurrencies in a simple, safe and reliable way, without having to download a wallet, and without having to deal with the tax authorities”
Sorumluluk Reddi: Bu makale yalnızca bilgi amaçlı sağlanmıştır. Yasal, vergi, yatırım, mali veya başka bir tavsiye olarak sunulmaz veya kullanılması amaçlanmaz.
Source: https://cryptodaily.co.uk/2022/03/israel-largest-bank-set-to-enable-cryptocurrency-trading