Israel Discount Bank Launches Crypto Trading on Nov. 26

Israel Discount Bank has announced plans to let private customers buy, hold, and sell Bitcoin and Ether through its mobile app starting November 26, according to Cryptonews. The service brings cryptocurrency purchases and sales directly into the banking environment customers use for traditional assets like stocks and bonds, removing the need for external exchange accounts or separate digital wallets.

Account Access and Infrastructure

Access to the service will be limited to private customers aged 18 or older whose accounts are enabled for securities trading, subject to the bank’s terms and enrollment agreement. Digital assets will be held in bank wallets supported by Fireblocks infrastructure, with sale proceeds credited directly into the customer's bank account. Elad Fisher, head of Discount’s Financial Markets Division, led the initiative, while Group CEO Avi Levi described the offering as an initial step toward developing the bank’s digital currency infrastructure.

Fees and Tax Handling

Discount will waive account management fees for six months and described trading commissions as low, though specific rates remain unpublished. The integrated tax service will allow capital gains and losses to be offset against other investments in the customer's portfolio when tax is deducted at source. The bank warned that cryptocurrency trading carries exceptional risk, including high volatility and the possibility of losing the entire investment.

Key facts

• Launch date: November 26 for Bitcoin and Ether.
• Eligible users: Private customers aged 18 or older with securities-enabled accounts.
• Infrastructure: Fireblocks provides the digital asset wallet custody.
• Fees: Account management fees waived for six months; trading rates undisclosed.
• Competitive timeline: Precedes Bank Leumi’s planned crypto service scheduled for early 2027.