According to an announcement made on Friday, Israel’s largest bank, Bank Leumi will be the first in the nation to allow customers to trade Bitcoin.
Galaxy Digital and the lender will collaborate to offer the service. It will be available for customers to use in the first quarter of next year. said.
Bank Leumi first announced The initiative to launch crypto trading by 2022 has been shelved. GalaxyOne Institutional will be used to launch the latest service, which is Galaxy’s platform for institutions such as banks, asset management firms, and others.
“We believe that digital assets are gradually becoming an integral part of the global financial system, and it is our role to enable customers to benefit from this development within a reliable, secure, and regulated banking framework,” Maya Ravia is the Head of Strategy at Bank Leumi.
In the statement, it was also mentioned that customers would be able trade Bitcoin with other crypto currencies. Leumi’s mobile banking application, PEPPER will provide this service.
“The future of finance will run on open, programmable rails, and we believe the banks that move first will define the era that follows,” Galaxy Israel CEO Lior lamesh.
“We are building one platform for trading and custody, with institutional-grade security at its core, and the onchain rails beneath it, through Galaxy Infrastructure and GalaxyOne Institutional, for banks around the world.”
According Chainalysis reports that crypto adoption has steadily increased in Israel over the past few years. The war in Gaza, as well as geopolitical issues such Iran and the Gaza conflict, have led Israelis towards digital assets. “safe-haven.”
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Source: bitcoinmagazine.com
