Israel Discount Bank plans to let customers buy, hold and sell Bitcoin and Ether in its mobile app from Nov. 26. Tax handling will sit inside their investment accounts, but the bank has not disclosed trading rates. Bank Leumi's own crypto service is scheduled for early 2027.
Israel Discount Bank will let customers trade Bitcoin and Ether through its mobile app from Nov. 26. Customers will not need an external exchange account or a separate digital wallet, according to Globes.
Access starts with adult securities-trading customers
The service is limited to private customers aged 18 or older whose accounts are enabled for securities trading. The Jerusalem Post reported the terms, which also depend on the bank's enrollment agreement.
Digital assets will sit in bank wallets supported by Fireblocks infrastructure. Proceeds from sales will go directly into the customer's bank account.
Group CEO Avi Levi called the offering an initial step toward building the bank's digital currency infrastructure and capabilities. The bank also warned that crypto trading carries exceptional risk, including the possibility of losing the entire investment.
Fees stay unpublished while tax handling is built in
Discount will waive account management fees for six months. Globes reported that the bank described trading commissions as low but did not publish the rates in its announcement.
The tax service will let crypto capital gains and losses be offset against other investments in the customer's portfolio when tax is deducted at source. Globes contrasted this with external platforms, where investors handle their tax obligations independently.
Israeli investors have also faced difficulties depositing crypto proceeds into commercial bank accounts, because banks require evidence of the source of funds under anti-money laundering rules, the publication reported.
Leumi's Galaxy service trails by months
Bank Leumi announced a Galaxy trading partnership on Aug. 14 covering Bitcoin, Ether and Solana through Leumi Trade. Its service is expected in early 2027 for Leumi and PEPPER customers.
Discount would therefore launch first if it meets its announced schedule, Globes reported.
Source: crypto.news
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