Pepper Invest, Pepper’s digital investment platform from Beit Leumi, announced today (Sunday) the launch of an innovative and unique service for the banking system in Israel – cryptocurrency trading. In this way, Pepper will be the first banking platform in Israel – and one of the few in the world – that will allow its customers to trade in cryptocurrencies, using an attractive pricing model. Later on, the service will also be available to Bank Leumi customers.
The new service is the result of a recently concluded collaboration between the Leumi Group and the American company Paxos, the leading platform, supervised by American regulators, in the world of crypto. Upon completion of the required regulatory approvals, the service will allow Pepper Invest customers to purchase, hold and sell cryptocurrencies, initially in the Bitcoin and Ethereum type, starting at an amount of NIS 50 per transaction. At the click of a button, the customer will be able to purchase and sell cryptocurrencies through his trading account at Pepper Invest. When selling and converting back to shekels in the current account, Pepper will collect tax in accordance with the guidelines of the Tax Authority, so that the customer will not have to deal with the taxation issue at all. In the tools available today.
The first in Israel Photo: From the service
Paxos is a pioneer in building digital asset management solutions, in a safe and regulated manner, for the world’s leading companies. The company, founded in 2012, holds licenses from American regulators, and is the most supervised body of its kind. The company has dozens of strategic customers and investors, such as PayPal, Bank of America, and Revolut. Paxos manages more than $ 20 billion in assets and serves more than 400 million end customers worldwide.
Uri Natan, CEO of Pepper Photo: Oren Dai
Uri Natan, CEO of Pepper, said: “We are proud to be the first in the banking system in Israel, and one of the few in the world, to offer our customers to trade cryptocurrencies in a simple, safe and reliable way, without having to download a wallet, and without having to deal with tax authorities. This is a game changer that opens a window for our clients into the next world of investments and future banking. The customer will enjoy a product that addresses all of these aspects. “