Bank Leumi partners with Galaxy Digital to launch Israel's first bank-based crypto trading for 2.5M retail customers in early 2027, pending Bank of Israel approval.
DeFi & Yields ·
Bank Leumi announced a partnership with Galaxy Digital on August 14 to offer Bitcoin, Ethereum, and Solana trading to approximately 2.5 million retail customers beginning in early 2027. The service would be branded as the first bank-based digital asset trading offering in Israel, accessible to customers of both Leumi and its mobile banking subsidiary PEPPER through a dedicated section of Leumi Trade. Galaxy Digital will supply the trading platform via GalaxyOne Institutional and provide custody infrastructure.
The rollout requires approval from the Bank of Israel, which rejected a similar initiative between Leumi and Paxos in 2022. The regulatory environment has shifted since then: the Bank of Israel's Banking Supervision Department removed an automatic deposit delay on crypto transactions above NIS 100,000 in mid-July, and the Capital Markets Authority has circulated draft rules permitting licensed firms to offer trading in leading digital assets subject to specified conditions.
Galaxy's custody technology originated from Celsius, which acquired GK8, a Tel Aviv-based custody firm, for $115 million. Galaxy obtained the platform through Celsius's bankruptcy proceedings, bringing approximately 40 staff and a local office into its operations. Approval timing and any further regulatory requirements remain unconfirmed.