Second Largest Israeli Bank Leumi Launching Cryptocurrency Trading

Second Largest Israeli Bank Leumi Launching Cryptocurrency Trading

Israel’s second-largest bank, Leumi, is launching a cryptocurrency trading service to allow customers of its digital investment platform to trade cryptocurrencies. “The service will allow Pepper Invest customers to buy, hold, and sell cryptocurrencies.” Major Israeli Bank Launching Crypto Trading Service

Pepper Invest, the digital investment platform of Pepper by Leumi (TASE: LUMI), announced Friday the upcoming launch of its cryptocurrency trading service.

“Pepper will be the first banking platform in Israel … to allow its customers to trade cryptocurrencies, in an attractive pricing model,” the announcement details, adding that the service will also become accessible to other Bank Leumi customers in the near future.

The new service is a collaboration between Leumi Group and Paxos, a regulated U.S. blockchain infrastructure platform. The announcement adds that upon completion of the regulatory approvals required: The service will allow Pepper Invest customers to buy, hold and sell cryptocurrencies, in the first stage bitcoin and ethereum.

Bank Leumi’s customers can trade cryptocurrencies through their trading account at Pepper Invest and “Pepper will collect tax according to the guidelines of the Israeli Tax Authority so that customers will not need to manage tax complexities,” the announcement notes.

Founded in 2012, Paxos holds regulatory licenses in the U.S. It manages more than USD 20 billion in assets and reaches more than 400 million end-customers worldwide.

Pepper CEO Uri Nathan commented: We are proud to be the first in the Israeli banking system and one of the few worldwide to offer our customers to trade in cryptocurrencies simply, safely and reliably, without the need to download a crypto wallet and with all tax complexities being resolved by the bank. Tags in this story Bank Leumi, bank leumi bitcoin, bank leumi crypto, bank leumi crypto trading, bank leumi cryptocurrency, bank leumi ether, bank leumi ethereum, crypto trading, Cryptocurrency Trading, israeli bank, pepper by leumi

What do you think about this major Israeli bank launching cryptocurrency trading services? Let us know in the comments section below. Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Ukraine"s Government Launches "Museum of War" NFT Collection FEATURED | 11 hours ago Facebook Owner Meta Files 8 Trademark Applications Covering Metaverse, Crypto Services FEATURED | 2 days ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleJanet Yellen Admits Crypto Has Benefits — Says Treasury Working on Crypto Regulation Next articleRigel Protocol to Launch Unique NFTs Collection Sales Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFed Hikes Benchmark Bank Rate for the First Time Since 2018, FOMC Expects 6 More Increases

On Wednesday, the Federal Open Market Committee (FOMC) and Fed chair Jerome Powell held a press conference concerning the American economy, the central bank’s plans to address inflation, and the ongoing Russia-Ukraine war. Powell announced that the FOMC decided to ... read more.RBI Crypto: Indian Government Says Central Bank Has No Plan to Issue Cryptocurrency Elliptic Identifies "Several Hundred Thousand Crypto Addresses" Tied to Russia-Based Sanctioned Actors UAE Hospitality Brand Stella Stays Now Accepts Crypto ASIC Mining Rig Manufacturer Canaan Reveals $100 Million Stock Buyback Program