Israel Discount Bank Becomes First in Country to Offer Bitcoin and Ethereum Trading - Coinpedia

The service will support Bitcoin and Ethereum initially, allowing eligible private customers aged 18 and above to trade directly from their bank accounts. Accounts must be enabled for securities activity and meet the bank's terms. Users won't need foreign crypto exchanges or separate wallets, as digital assets will be held through bank wallets using Fireblocks' infrastructure.

Tax Benefits for Traders

A key feature is the treatment of crypto taxes. Customers can offset capital gains and losses from digital-asset activity against other investments for withholding-tax purposes, keeping calculations within banking and investment accounts. The bank will waive account management fees for the first six months, though trading commissions are reported at 2% per transaction.

Early Lead in Crypto Race

This launch positions Discount Bank ahead of rival Bank Leumi, which announced similar plans in August but expects to launch crypto trading for Bitcoin, Ethereum and Solana only in early 2027 through its Leumi Trade app and Galaxy Digital partnership. Leumi's previous attempt in 2022 with Paxos was blocked by the Bank of Israel.