Israel Discount Bank just went live with $BTC and $ETH trading in their mobile app on Nov 26.
This is the first commercial bank in Israel letting customers buy, hold, and sell crypto directly through banking infrastructure. No external exchanges. No separate wallets. Fireblocks handling custody.
Why this matters:
Israeli banks have been blocking crypto-related fund transfers for years due to AML compliance. Investors couldn't move proceeds from sales into their accounts without jumping through hoops.
Now Discount Bank is solving this by bringing custody and trading in-house. Customers can offset crypto gains/losses against their broader portfolio for tax purposes. No dealing with the Tax Authority separately.
6-month fee waiver. Low commissions (exact rates TBA). Only available to 18+ private customers with securities trading enabled.
Bank Leumi tried this in 2022 with Paxos. Failed to launch. They're now partnered with Galaxy Digital for $BTC $ETH $SOL trading but won't go live until early 2027.
Discount Bank just ate their lunch.
This is the first commercial bank in Israel letting customers buy, hold, and sell crypto directly through banking infrastructure. No external exchanges. No separate wallets. Fireblocks handling custody.
Why this matters:
Israeli banks have been blocking crypto-related fund transfers for years due to AML compliance. Investors couldn't move proceeds from sales into their accounts without jumping through hoops.
Now Discount Bank is solving this by bringing custody and trading in-house. Customers can offset crypto gains/losses against their broader portfolio for tax purposes. No dealing with the Tax Authority separately.
6-month fee waiver. Low commissions (exact rates TBA). Only available to 18+ private customers with securities trading enabled.
Bank Leumi tried this in 2022 with Paxos. Failed to launch. They're now partnered with Galaxy Digital for $BTC $ETH $SOL trading but won't go live until early 2027.
Discount Bank just ate their lunch.