Leumi will be the first Israeli bank to enable customers to buy and sell digital assets. Bank clients will have access to BTC and ETH trading on the Pepper Invest digital platform.
Israel’s largest bank, Leumi, has announced that the bank’s digital platform, Pepper Invest, will provide customers with the ability to buy, store, and sell cryptocurrencies. At the initial stage of the service implementation, operations in BTC and ETH will be available in the amount of at least 50 shekels ($15.49).
The bank said in a statement that “Pepper Invest will independently withhold taxes from cryptocurrency transactions, in accordance with the instructions of the Israel Tax Authority, so clients will not be burdened with tax liabilities.” In addition, Pepper Invest “will eliminate the risks of using digital wallets.”
Leumi Bank is not the first lending institution in the world to pay attention to the crypto industry. Last year, Singapore-based bank DBS listed its first STO on the DDEx digital exchange for $11.3 million in digital bonds. DBS said the move opens up the possibility for other issuers and clients to use the DDEx infrastructure for “efficient access to the capital markets.”
Source: Bits
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