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Leading Israeli bank Leumi will become the first Israeli bank to allow crypto trading. The digital investment app of the institution, Pepper Invest will provide the possibility in partnership with blockchain technology company Paxos.
According to the Israeli media portal Ice, crypto trading will be available for the customers who use the Pepper app. Later, it will become available for Leumi customers too. Getting regulatory approval, the service will allow buying, holding, and selling Bitcoin and Ethereum with e minimum transaction limit of 50 Israeli Shekel NIS (around $15).
The Chief Executive Officer of Pepper, Ari Natan said every customer will be able to trade crypto in a simple and secure way directly to the app, without the need of a crypto wallet and without dealing with the tax regulators.
Earlier this month the Bank of Israel released a [draft] (https://www.boi.org.il/en/NewsAndPublications/PressReleases/Pages/10-03-22.aspx) crypto regulation, which allowed the clearing and transfer of crypto funds to the banking system. The publication opened the way for banks to provide virtual asset services.