For the first time in Israel, trading services will be offered by Bank Leumi. An announcement in crypto trading has been made by Pepper Invest’s digital platform after its agreement with Paxos, a US-based blockchain business.
Using Leumi’s new service, Pepper Invest users may now purchase, hold, and trade cryptocurrencies.
Only Bitcoin and Ethereum are presently supported, with a minimum transaction amount of 50 shekels (Rp222,000).
This is currently awaiting regulatory clearance. Leumi is one of Israel’s two major financial institutions. It is headquartered in Tel Aviv, Israel.
Customers of Pepper Invest will soon be able to purchase, store, and trade cryptocurrencies using the company’s new service.
While the firm did not provide a launch date in its statement, it did indicate that regulatory clearance is a condition of the service’s availability. One of Israel’s two major banks, Leumi, is well-known.
The bank said in a news release that its solution eliminates the dangers consumers encounter when downloading a digital wallet.
Many Banks moving towards the Crypto industry
There has been a surge in the number of financial institutions moving into the crypto industry lately. Goldman Sachs, a financial institution with a long history, has just updated its website to include features relating to digitalization and crypto technology.
Bank Leumi, which was founded in Jaffa in 1902, is currently Israel’s biggest bank. More than 12,000 people work for the bank, which has a value of over 114 billion dollars.