Bank Leumi's digital investment platform launches cryptocurrency service

Bank Leumi le- Israel BM's digital investment platform, Pepper Invest, has launched a cryptocurrency trading service as part of the Israeli bank's partnership with U.S.-based blockchain infrastructure platform Paxos.

The new service, subject to regulatory approvals, will allow Pepper Invest's customers to buy, hold and sell cryptocurrencies — available in bitcoin and ethereum in the initial stage — with a starting amount of 50 shekels per transaction, Pepper Invest said in a March 25 statement.

The move makes Leumi the first Israeli bank to offer currency trading, Reuters reported.

As of March 24, US$1 was equivalent to 3.23 Israeli shekels.