On November 26, Israel Discount Bank will add Bitcoin and Ethereum trading to its mobile app, making cryptocurrency investing more accessible to traditional banking customers. Clients will be able to buy, hold and sell digital assets alongside stocks and bonds, without relying on external exchanges or separate digital wallets.

Bank Integrates Crypto Trading Into Mobile App

The bank will rely on fintech company Fireblocks’ custody infrastructure to safeguard customers’ digital assets. Clients will also be able to deposit proceeds from cryptocurrency sales directly into their bank accounts.

Investors will be able to offset crypto gains and losses against other portfolio investments, potentially simplifying customers’ tax calculations and withholding procedures.

Discount Bank will waive account management fees for six months and charge low trading commissions, though it has not disclosed the rates. The service is for customers aged 18 and older who have securities-enabled accounts.

Discount Bank Moves Ahead of Leumi

The launch could bolster Israel’s standing in regulated cryptocurrency banking. Rival Bank Leumi plans to offer similar services through Leumi Trade in early 2027.

The service is exposed to cryptocurrency volatility risks. CEO Avi Levi describes the launch as an initial step toward expanding the bank’s digital asset operations.

Related: Deutsche Bank Launches Crypto Custody Service for Institutional Clients