The company announced Friday that Bank Leumi (LUMI), one of Israel’s largest banks, will offer cryptocurrency trading via its digital platform Pepper Invest. stated this in a press release.
Bank Leumi will offer this service in partnership to New York-based custody platform Paxos. It will be the first bank to offer cryptocurrency trading services to its customers in Israel.
Leumi stated that customers will initially be able buy, hold, and sell bitcoin (BTC), and ether (ETH), in transactions starting at 50 shekels ($15.49).
As of right now, no start date has been set and the move remains subject to regulatory approval.
Leumi stated that Pepper would collect tax in accordance with the Israeli Tax Authority’s guidelines so customers won’t have to deal with tax complexities.
Reuters reported earlier that Leumi would offer crypto trading.