Israel Discount Bank will introduce Bitcoin and Ethereum trading through its mobile app on November 26, bringing cryptocurrency investments closer to traditional banking customers. The service will allow clients to purchase, hold, and sell digital assets alongside stocks and bonds. Consequently, investors will no longer need external exchanges or separate digital wallets.
Bank Integrates Crypto Trading Into Mobile App
The bank will use custody infrastructure from fintech company Fireblocks to secure customers’ digital assets. Additionally, clients can deposit cryptocurrency sale proceeds directly into their bank accounts.
The service will also allow investors to offset crypto gains and losses against other portfolio investments. Hence, customers could simplify tax calculations and withholding procedures.
Moreover, Discount Bank will waive account management fees for six months. It will also charge low trading commissions without disclosing specific rates. The service targets customers aged 18 and older with securities-enabled accounts.
Discount Bank Moves Ahead of Leumi
Discount Bank’s launch could strengthen Israel’s position in regulated cryptocurrency banking. Its rival, Bank Leumi, plans to introduce similar services through Leumi Trade in early 2027.
However, Discount Bank’s service faces cryptocurrency volatility risks. CEO Avi Levi views the launch as an initial step toward expanding the bank’s digital asset operations.
Related: Deutsche Bank Launches Crypto Custody Service for Institutional Clients
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