Max and Isracard are two Israeli credit card companies that have been established to offer Bitcoin investment and cashback options via a credit card.
Israeli financial companies are increasing their investments in cryptocurrencies such as Bitcoin ( BTC), and there are two competing credit card companies that work on BTC investment features.
Max and Isracard are two Israeli-based credit card companies that offer Bitcoin purchase options.
Max announced that he has partnered with Bits of Gold, a local crypto broker, to launch MaxBack Crypto, a crypto-enabled credit card. Max’s official website states that the card will provide cashback opportunities for BTC, as well as the possibility to purchase Bitcoin through a clearing arrangement Bits of Gold.
Max, formerly known as Leumi Card was a major non-banking financial institution and one of Israel’s largest credit card issuers. According to reports, the firm issued more than 1.6 million credit card and provided clearing services for over 40,000 merchants.
Max’s rival, Isracard Group is one of Israel’s largest credit card companies. It offers credit clearing services for four major credit cards brands, including American Express MasterCard, Visa, and Isracard.
Isracard is not the only one interested in crypto. announced a partnership also with Israel’s largest investment company Altshuler Shaham, reportedly on Tuesday.
Isracard partnered specifically with Altshuler’s cryptofocused subsidiary Altshuler Shaham Horizon in order to enable Isracard holders the ability to buy Bitcoin directly through its credit card.
Altshuler Shaham expressed interest in Bitcoin investments before. The Grayscale Bitcoin Trust invested $100 million in 2020.
Ilan Stark, Horizon CEO, stated that “As the largest crypto company in the country we are proud to initiate this innovative collaboration which will allow public participation in the digital currency arena.” The exec said that while this area was once considered exotic in the capital market, investors and customers are now more interested in it.
