Subject to regulatory permission, Pepper Invest customers can now purchase, trade, and hold Bitcoin and Ethereum. One of Israel’s major banks, Leumi Bank, has apparently begun to allow Bitcoin (BTC) and Ether (ETH) transactions.
According to Reuters, Leumi’s digital platform, Pepper Invest, has teamed with blockchain infrastructure firm Paxos to provide crypto trading. The new service allows Pepper Invest clients to purchase, trade, and keep cryptocurrency.
Before introducing support for additional crypto assets, the move will only support BTC and ETH. According to the article, the minimum transaction amount for cryptocurrency was established at roughly $15.50 (50 shekels).
There is no set start date, and the new move is subject to regulatory clearance.
Various banks in many countries were initially unwilling to accept Bitcoin and other cryptocurrencies, but this changed as demand from businesses and individuals grew. In addition, regulators have switched their focus away from outright prohibitions and toward the creation of a regulatory framework.
Bits Of Gold’s account has previously been barred by Leumi Bank due to regulatory issues. A Supreme Court judgement at the time said that Leumi Bank could not restrict the crypto exchange’s account.
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This is a noteworthy milestone since it marks a shift in the global banking sector’s stance regarding digital assets. DBS of Singapore currently provides crypto trading services to corporations, and by the end of the year, it will expand its capabilities to retail consumers.
In addition, South Korean bank KB Bank is preparing to offer crypto investing solutions to individual clients, and numerous other institutions are examining similar options.