Discount to Allow Bitcoin and Ethereum Trading Directly From Bank Accounts

In depth

Discount Bank will allow its customers to buy and sell bitcoin and ethereum directly from their bank accounts, starting November 26. The service will begin within a "closed garden" framework, meaning customers will not be able to hold the coins themselves, and the bank will keep them on their behalf. In the first stage, storage will be at no cost.

The service will include the option to offset profits and losses against the investment portfolio for tax purposes, as well as an exemption from management fees for six months. The purchase and sale commission will stand at 2%, and the bank's website also lists a 0.25% custody fee each quarter.

The bank seeks to get ahead of Bank Leumi, which announced a similar service expected to launch in early 2027. Customers will be able to buy and sell directly from the app, without a separate digital wallet and without an external trading platform.