Discount Bank is expected to allow trading in digital currencies (crypto) directly via the bank’s application for the first time in the Israeli banking system. The new service will be available to customers starting November 26, 2026, and will allow purchasing, holding and selling Bitcoin and Ethereum in a secure and convenient banking framework. This move is intended to allow customers to manage all their investments – including stocks, bonds and now also crypto – in one centralized location.
The new service allows customers to operate in the crypto field while complying with banking standards, with trading executed directly from the bank account in a simple, easy and convenient manner. Under this framework, customers do not need to manage dedicated digital wallets, with no risk of losing access to the digital currencies and without the hassle involved in opening accounts on foreign exchanges. Additionally, the service will allow capital gains and losses to be offset within the bank customers’ investment portfolio for tax deduction at source.
The bank offers costs including an exemption from account management fees for six months and low trading commissions. The service allows buying and selling digital currencies at the touch of a button and receiving the sale proceeds directly into the bank account. Customers’ assets are kept in the bank’s wallets via fintech company Fireblocks, which provides digital asset infrastructure and solutions for storage, transfer and issuance for financial institutions. This platform enables organizations to build and manage blockchain operations while emphasizing a high level of security tailored to financial entities.
Avi Levi, CEO of Discount Group, stated: “For the first time in the banking system, Discount Bank will allow trading in digital currencies directly from the bank account in a simple and secure manner, without the need for complex dedicated digital wallets. This is a first step toward establishing advanced technological infrastructure in the digital currency space and developing the bank’s capabilities in this area.” The move was led by Elad Fisher, head of the Financial Markets Division at Discount Bank.
The service is restricted to private customers aged 18 and over only, given the risk characteristics in the crypto field, provided they have signed up to join the account to securities activity and subject to the bank’s terms and join agreement. The bank notes that the aforementioned information does not constitute a recommendation to invest in this product and does not replace personal advice tailored to the unique needs, data and objectives of each person, and that trading in digital currencies involves an exceptional level of risk, high volatility and the risk of total loss of investment.
