Start-up nation and tech hub of the world, Israel, has finally taken the plunge to introduce cryptocurrency into traditional banking. The second biggest bank in Israel, Bank Leumi is now offering crypto currency to their customers using Pepper Invest. The Israel based digital investment platform will aid bank Leumi in facilitating customers with their crypto trading. Customers of Leumi will soon be able to buy, hold and sell cryptocurrency, giving them the opportunity to collect Bitcoin and Ethereum. Customers will be required to trade at least 50 NIS ($15.50), allowing them to get a taste of success in crypto trading.
Investment firm, Pepper Invest has just partnered with the leading US blockchain company, Paxos. Paxos provides cutting edge technology to ensure assets are moved securely and reliably in limited time. It has acquired booming investments from corporations such as Paypal and Revolut. Following this, Leumi is the first bank in Israel to put their trust in a platform that will provide efficient trading.
Customers will be able to use a mobile app to trade. Fortunately, customers will not have to worry about tax deductions as it is automatically taken into consideration by Leumi to align with the Israeli Tax Authority.
If Leumi finalises their decision to incorporate cryptocurrency, Israeli society will not just be renowned for their start-up success but also their crypto conquest. It was undeniable Israel would use pioneering Tech platforms to ensure secure and coherent trading for their customers.
With examples of Israeli start-ups being Etoro and COTI, it is evident that cryptocurrency is heavily engrained in Israeli culture. Bank Leumi has created a new era of crypto trading amongst traditional banks in Israel.