Israel Discount Bank (TASE: DSCT) announced today (Wednesday) that from November 26 it will enable its customers to trade in the digital currencies Bitcoin and Ethereum directly through the bank’s mobile app. The new service will allow customers to purchase, hold, and sell digital assets alongside their other investments, such as stocks and bonds, without the need to open an account on an external crypto exchange or manage a separate digital wallet.
This marks a significant step in the entry of Israel’s traditional banking sector into the digital currency market, a space dominated up to now by crypto exchanges and specialized firms. In recent years, Israeli investors have faced difficulties transferring funds from crypto-related activities into their bank accounts, as banks have demanded verification of the source of funds to ensure compliance with anti-money laundering regulations. Discount Bank’s new service is designed to facilitate these transactions entirely within the banking system, allowing proceeds from the sale of digital currencies to be deposited directly into the client’s account.
Through this service, clients can offset capital gains and losses from crypto activities against the rest of their investment portfolio for the purpose of deduction of tax at source. This offers a potential advantage over using external platforms, which obliges investors to handle taxation independently vis-a-vis the Israel Tax Authority.
The bank will offer a six-month exemption from account management fees, and trading commissions described as “low”, although the bank did not specify the exact rates in its announcement. The digital currencies will be held in bank-provided wallets, using infrastructure from fintech company Fireblocks, which specializes in the custody, transfer, and management of digital assets for financial institutions. The service will be available to private customers aged eighteen and older whose accounts are enabled for securities trading, subject to the bank’s terms and conditions.
Discount Bank is not the first bank in Israel to announce plans to facilitate digital currency trading. As early as March 2022, Bank Leumi announced a plan to offer trading in Bitcoin and Ethereum via Pepper Invest, in partnership with Paxos, but that initiative did not progress to a full-scale launch. Last August, Leumi announced a new collaboration, this time with Galaxy Digital, to facilitate trading in Bitcoin, Ethereum, and Solana through the Leumi Trade app. Since Leumi’s service is not expected to go live until early 2027, Discount Bank, provided it adheres to its announced timetable, will launch its service first.
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Discount Group CEO Avi Levi said, “For the first time in the banking system, Discount Bank will facilitate the trading of digital currencies directly from a bank account, simply and securely, without the need for complex, dedicated digital wallets.” Levi said that this represented an initial phase in building the technological infrastructure to develop the bank’s operations in digital currencies.
While the service offers convenience, trading in cryptocurrencies still involves significant risks, including extreme price volatility. Discount Bank itself emphasizes that activity in this field involves a high level of risk.
Published by Globes, Israel business news – en.globes.co.il – on November 11, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
