Leumi Bank of Israel to open digital asset trading
One of Israel's leading financial institutions, Leumi Bank, plans to launch BTC and ETH trading. Recently, the bank's representatives announced the creation of a relevant division - Leumi Pepper Invest.
The platform was developed on the basis of the blockchain solution from Paxos. Bank customers will be able to use it to invest in bitcoin and other cryptocurrencies conveniently and safely.
This digital service, according to bank officials, will become a kind of bridge. It will provide the bank's clients with the opportunity to make transactions both with cryptocurrencies and in the traditional finance sector.
The launch date of the service has not yet been announced. Business, according to the bank representative, is behind regulators. The bank must obtain permission to launch a digital platform. At the same time, Leumi Bank is confident that there will be no problems with obtaining permission.
At the very beginning of its existence, the Leumi Pepper Invest platform will open access to transactions with Bitcoin and Ethereum. In the future, the number of crypto assets on the service will be expanded.
Users of the digital service will also not have to worry about paying taxes. The platform will collect tax from citizens for the operations performed. This will save time and free users from tax hassle.
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