Second Largest Israeli Bank Leumi Launching Cryptocurrency Trading

- Advertisement -

Second Largest Israeli Bank Leumi Launching Cryptocurrency Trading – Leumi, Israel’s second-largest bank, has announced the opening of a cryptocurrency trading facility for customers of its digital investing platform. “Pepper Invest customers will be able to buy, sell, and hold cryptocurrencies using the service.”

Pepper Invest, Pepper by Leumi’s (TASE: LUMI) digital investing platform, announced the debut of its cryptocurrency trading service on Friday.

“Pepper will be the first financial platform in Israel to allow its users to trade cryptocurrencies under an appealing price model,” according to the release, which also states that the service will soon be available to other Leumi customers in the near future.

Also Read: Morocco Central Bank Discusses Crypto Regulation Best Practices With IMF and World Bank

- Advertisement -

The new service is the result of a partnership between Leumi Group and Paxos, a regulated blockchain infrastructure platform based in the United States.

According to the release, once all regulatory permits are in place:

“Customers of Pepper Invest will be able to buy, hold, and trade cryptocurrencies, starting with bitcoin and ethereum.”

Users of Bank Leumi can trade cryptocurrencies through their Pepper Invest trading account, and “Pepper will collect tax according to the standards of the Israeli Tax Authority so that customers do not have to deal with tax complexity,” the report stated.

Paxos was founded in 2012 and has regulatory licenses in the United States. It oversees about USD 20 billion in assets and serves over 400 million end-customers globally.

Also Read: US Senate Committee Advances Bill to Mitigate Risks From El Salvador Adopting Bitcoin as Legal Tender

Uri Nathan, the CEO of Pepper, said:

“We are happy to be the first bank in Israel and one of the few in the world to provide our customers with the ability to trade cryptocurrencies simply, safely, and reliably, without any need to download a crypto wallet and with all tax complexity handled by the bank.”

Don't miss

Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan

Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan...

North Korean Lazarus Group Linked to New Cryptocurrency Hacking Scheme

North Korean Lazarus Group Linked to New Cryptocurrency Hacking...

London’s Prince Charles Cinema Set To Launch Bid To Revive Edinburgh Filmhouse

London’s Prince Charles Cinema Set To Launch Bid To...

Amber Heard Appeals For New Trial In Johnny Depp Defamation Case

Amber Heard Appeals For New Trial In Johnny Depp...

Paul Pelosi Attends Kennedy Center Honors In First Appearance Since Hammer Attack

Paul Pelosi Attends Kennedy Center Honors In First Appearance...

LEAVE A REPLY

Please enter your comment!
Please enter your name here