In a statement, the company announced that Bank Leumi, Israel’s largest bank, will begin offering crypto trading through Pepper Invest.
Bank Leumi will partner this service with the New York-based financial and technology company Paxos. Together with this service, the company will become the first bank in Israel to offer crypto trading services to its customers.
Leumi said in a statement that customers can buy and sell Bitcoin and Ethereum at a transaction price starting from at least 50 shekels ($15.49).
Leumi said in a statement,
Pepper will make a tax deduction according to the rules of the Israeli Tax Service, so that customers do not have to deal with tax complexities.
It is unclear exactly when the service will start. On the other hand, the crypto service that the bank will provide has received legal approvals. Reuters news agency had previously reported that bank would start offering crypto trading. The Israeli government is continuing its supervision and regulation steps in the field of crypto currency.