Israel's Biggest Bank to Let Customers Trade Bitcoin by 2027

Israel's largest bank is about to bring cryptocurrency to millions of ordinary customers. Bank Leumi has announced a partnership to let people buy and sell digital coins right inside its banking app.

A cryptocurrency (a type of digital money that exists only online and isn't controlled by any government) will soon be available to Leumi's customers. The bank is teaming up with Galaxy Digital, a financial company that specializes in crypto services.

Starting in early 2027, customers of Leumi and its mobile banking arm, Pepper, will be able to trade three of the biggest cryptocurrencies:

• Bitcoin (BTC) — the original and most famous cryptocurrency
• Ether (ETH) — the second-biggest crypto, powering the Ethereum network
• Solana (SOL) — a fast, popular newer cryptocurrency

Customers will be able to buy, hold, and sell these coins through a special section of the Leumi Trade app. This makes Leumi the first bank in Israel to offer this kind of service directly to regular customers.

Behind the scenes, Galaxy will handle the trading and safekeeping. Its custody platform (a secure system that stores and protects digital coins, like a high-tech vault) will guard customers' crypto.

Here's some background on Galaxy itself:

• It reported an $85 million net loss (spending more than it earned) in the second quarter, mostly because crypto prices fell.
• Still, its crypto division earned $66 million in adjusted gross profit (money made before certain costs), up 34% from the quarter before.
• Its shares trade on the Nasdaq (a major U.S. stock exchange) under the ticker GLXY, at $21.38 — up 2% for the day but down about 25% over the past year.

The bottom line: This move signals that mainstream banks are increasingly comfortable offering crypto to everyday customers. If a major traditional bank like Leumi is embracing digital coins, it may encourage other banks worldwide to follow.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/israels-largest-bank-taps-galaxy-to-offer-bitcoin-ether-and-solana-trading?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound