Second Largest Israeli Bank Leumi Launching Cryptocurrency Trading– Featured Bitcoin News

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Israel’s second-largest bank, Leumi, is introducing a cryptocurrency trading service to enable clients of its digital financial 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 financial investment platform of Pepper by Leumi (TASE: LUMI), revealed 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 statement information, including that the service will likewise end up being available to other Bank Leumi clients in the future.

The brand-new service is a partnership in between Leumi Group and Paxos, a regulated U.S. blockchain facilities platform. The statement includes that upon conclusion of the regulative approvals needed:

The service will enable Pepper Invest clients to purchase, hold and offer cryptocurrencies, in the very first phase bitcoin and ethereum.

Bank Leumi’s clients 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 statement notes.

Founded in 2012, Paxos holds regulative licenses in the U.S. It handles more than USD 20 billion in properties and reaches more than 400 million end-customers around the world.

Pepper CEO Uri Nathan commented:

We are happy to be the very first in the Israeli banking system and among the couple of around the world to provide our clients to sell cryptocurrencies merely, securely and dependably, without the requirement to download a crypto wallet and with all tax intricacies being fixed by the bank.

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Bank Leumi, bank leumi bitcoin, bank leumi crypto, bank leumi crypto trading, bank leumi cryptocurrency, bank leumi ether, bank leumi ethereum, crypto trading,

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