Israel Discount Bank Adds Bitcoin and Ether Trading to Its Mobile App
Israel Discount Bank will let eligible customers buy, hold and sell Bitcoin and Ether in its mobile app from November 26, with Fireblocks providing custody. The move makes it the first Israeli bank to offer direct in-app digital asset trading, with Bank Leumi expected to follow in early 2027.
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What the Bank Announced
Israel Discount Bank will begin letting eligible customers buy, hold and sell Bitcoin and Ether directly in its mobile app on November 26, 2026. The bank announced the service on November 11, and according to the research findings it is the first time an Israeli bank has offered in-app trading of digital assets. Only Bitcoin and Ether are supported at launch.
Access is limited to private customers aged 18 or older whose accounts are enabled for securities trading, subject to the bank's terms and enrollment agreement. Customers will not need an external exchange account or a separate digital wallet. Sale proceeds go directly into the customer's bank account.
Custody and Infrastructure
Customers' assets will sit in bank wallets supported by Fireblocks infrastructure, so customers will not hold their own private keys. Fireblocks is the quiet custody layer here, and banks generally prefer outsourcing key management to moving faster than building it in-house.
Elad Fisher, head of Discount's Financial Markets Division, led the initiative. Group CEO Avi Levi described the offering as an initial step toward building the bank's digital currency infrastructure and capabilities, and said customers could trade "without the need for complex dedicated digital wallets," as quoted by The Jerusalem Post.
Fees and Tax Treatment
The bank will waive account management fees for six months. Reporting on the commission rate differs: one outlet describes trading commissions as 2% per trade, while Globes reported that the bank called commissions low but did not publish a rate in its announcement. Readers should treat the 2% figure as unconfirmed by the bank's own announcement and check the fee schedule before trading.
The service will let crypto capital gains and losses be offset against other investments in a customer's portfolio, with tax handled through deduction at source. Globes contrasted this with external platforms, where investors handle tax obligations themselves. The bank also warned that crypto trading carries exceptional risk, including high volatility and the possibility of losing the entire investment.
Context: Banking Access and Competition
Israeli investors have reportedly had trouble depositing crypto sale proceeds into commercial bank accounts, as banks require evidence of the source of funds under anti-money laundering rules. The Israel Tax Authority has an official procedure for individuals whose bank has refused the relevant funds, developed with the Bank of Israel and the Money Laundering Authority. It is available to individuals only, not companies, and requires documentation of the original funds and the bank's refusal.
Discount is not alone. Bank Leumi announced a Galaxy partnership on August 14 covering Bitcoin, Ether and Solana through Leumi Trade, with service expected in early 2027 for Leumi and PEPPER customers. Globes reported that Discount would launch first if it meets its schedule, while noting that Leumi had announced an earlier Pepper Invest arrangement with Paxos in March 2022 that never reached full-scale launch. Outside Israel, Deutsche Bank launched crypto custody for institutional and corporate clients in Europe on November 11.
Why It Matters
For Traders
Bitcoin and Ether purchases through a bank app may add new retail flow, but the 2% per-trade commission reported by one source should be verified before trading.
For Investors
A mainstream Israeli bank offering regulated, in-app crypto access signals that incumbent banks are competing for custody and trading business.
For Builders
Bank-grade custody built on Fireblocks shows institutions prefer outsourced key management, which shapes demand for custody integrations.
This article is for information only and is not financial advice. Read the full disclaimer.
