JAKARTA - Bank Leumi will be the first bank in Israel to enable cryptocurrency trading. This news emerged from the digital platform Pepper Invest on Thursday, March 24. This activation comes after Leumi partnered with a US blockchain company, Paxos.
This new service from Leumi will allow Pepper Invest customers to buy, hold and sell cryptocurrencies. However, it is currently limited to Bitcoin and Ethereum, with a minimum transaction of 50 shekels (Rp222,000).
However, the statement did not give an actual launch date. They are still waiting for regulatory approval on this. Leumi is one of Israel's two largest banks.
"Pepper will collect taxes according to the guidelines of the Israel Tax Authority so that customers don't have to manage the tax hassle," said a source at Leumi as quoted by Reuters. They also add that the service will also eliminate the risk when downloading digital wallets.
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