Israel’s top bank Leumi (LUMI) in collaboration with Paxos, a New York-based custody and trading platform is offering cryptocurrency transactions via its digital platform, Pepper invest.
Bank Leumi will be the first bank in Israel to offer crypto trading services to its customers, thanks to cooperation with Paxos, a New York-based custody and trading platform.
Customers will be able to buy, hold, and sell bitcoin (BTC) and ether (ETH) in 50 shekel ($15.49) transactions at first. As of yet, no start date has been announced, and the move is pending regulatory approval.
“Pepper will collect tax according to the guidelines of the Israeli Tax Authority so that customers will not need to manage tax complexities,” the report said, citing a statement.