Bank Leumi's mobile-only challenger Pepper has partnered Paxos to add cryptocurrency trading to its investment platform.
In a first for the Israeli banking sector, Pepper Invest will let users buy, hold and sell cryptocurrencies, beginning with Bitcoin and Ethereum and a minimum transaction amount of 50 shekels a transaction.
When the service - still subject to regulatory approval - goes live, Pepper will collect tax according to the country's guidelines.
Uri Nathan, CEO, Pepper, says: "We are proud to be the first in the Israeli banking system and one of the few worldwide to offer our customers to trade in cryptocurrencies simply, safely and reliably, without the need to download a crypto wallet and with all tax complexities being resolved by the bank."