Israel Discount Bank Launches Bitcoin Trading in Mobile App
The institution enables crypto trading starting November 26 with integrated custody services
Israel Discount Bank announced that customers will be able to trade Bitcoin and Ether directly through its mobile application starting November 26. This initiative makes the institution the first in the Israeli banking system to offer such services in an integrated manner.
Access is restricted to individual customers residing in Israel who are over 18 years old. Users must have an existing account configured for securities trading to utilize the new functionality.
The digital asset custody structure will be provided by Fireblocks. The bank will charge a 2% commission on buy and sell transactions in addition to custody fees that will be waived for the first six months.
Operations will be available from Sunday to Friday during specific hours. The system will operate as a closed loop which means it will not be possible to transfer coins to external wallets or receive deposits from other platforms.
The bank emphasized that investing in crypto assets involves high risks and the possibility of total capital loss. The institution also noted that digital currencies are not legal tender and do not benefit from the same protections applied to traditional securities.
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