Israel Discount Bank will let eligible customers buy, hold and sell Bitcoin and Ether through its mobile app, with built‑in tax handling and six‑month fee waivers.
Israel Discount Bank announced that, starting November 26, eligible adult customers will be able to purchase, store and sell Bitcoin and Ether directly within the bank’s existing mobile app. The rollout integrates crypto trading with the same platform used for stocks and bonds, eliminating the need for a separate exchange account or external digital wallet, according to a report by Crypto.news.
The bank will rely on Fireblocks to provide the custodial infrastructure for assets held in bank‑issued wallets. Proceeds from sales are credited straight to the customer’s bank account, and a built‑in tax service will deduct capital‑gain taxes at source, allowing gains and losses to be offset against other investments in the same portfolio. The Jerusalem Post noted that this contrasts with external platforms, where investors must manage tax reporting themselves.
While trading commissions were described as “low,” the exact rates were not disclosed. Account‑management fees will be waived for the first six months of service. Access is limited to private customers aged 18 or older whose accounts are enabled for securities trading, and corporate accounts are excluded. The bank warned of the high volatility and risk of total loss associated with crypto trading.
The November launch puts Israel Discount Bank ahead of rival Bank Leumi, which plans to introduce its Galaxy crypto‑trading service in early 2027. Leumi’s offering will also cover Bitcoin, Ether and Solana, but will rely on GalaxyOne Institutional for execution and a separate custody platform. The early rollout by Discount Bank therefore makes it the first major Israeli bank to embed crypto trading in a retail banking app.
Regulators will monitor how the integrated tax‑deduction model performs under Israel’s anti‑money‑laundering framework. Observers will also look for the disclosed trading fee schedule and any expansion of the service to additional digital assets beyond Bitcoin and Ether.
The service is scheduled to launch on November 26, 2026.
Customers will be able to trade Bitcoin (BTC) and Ether (ETH) initially.
Capital‑gain taxes are deducted at source, allowing gains and losses to be offset against other portfolio investments.
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