Israel Discount Bank (Discount Bank) has officially announced the launch of a new digital asset service, allowing its customers to trade Bitcoin (BTC) and Ethereum (ETH) directly through the bank's mobile application. Scheduled to begin on November 26, 2026, this initiative represents a significant milestone as the first of its kind in the Israeli banking sector. The integration aims to simplify the process of digital asset management by eliminating the need for private wallets or third-party exchange accounts, enabling users to oversee their cryptocurrency holdings alongside traditional securities.
Service Eligibility and Infrastructure
The new investment feature is exclusively available to Israeli residents over the age of 18 who maintain an active securities account with the institution. To ensure high-level security and regulatory compliance, Discount Bank has partnered with the institutional-grade infrastructure provider Fireblocks for custody services. By utilizing Fireblocks' technology, the bank provides a secure environment for storing digital assets, which addresses common consumer concerns regarding the loss of private keys or the complexities of managing decentralized wallets.
- Supported assets: Bitcoin and Ethereum.
- Launch date: November 26, 2026.
- Security partner: Fireblocks.
- Integration: Directly within the existing mobile banking app.
Fee Structure and Market Context
In terms of costs, the bank has established a transparent fee schedule for retail participants. Each trade will incur a transaction fee of 2% of the total amount. While custody fees are usually applied to digital asset holdings, Discount Bank will waive these fees for the first six months following the launch. After this introductory period, a quarterly custody fee of 0.25% will be implemented. This move comes amid broader regulatory shifts in Israel, including the Bank of Israel's recent efforts to clarify Anti-Money Laundering (AML) guidelines for crypto-to-fiat transfers, which are set to take full effect in 2027.
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.
The introduction of in-app crypto trading by a major player like Israel Discount Bank signals a growing acceptance of digital assets within the traditional financial ecosystem of the Middle East. By centralizing the management of both crypto and legacy investments, the bank provides a regulated pathway for retail investors to gain exposure to the blockchain space. As the November 26 launch approaches, the industry will likely monitor how this integration impacts the competitive landscape among other major Israeli financial institutions, such as Bank Leumi, which has also signaled interest in the sector.
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For educational purposes only. Nothing here constitutes financial or investment advice. Crypto markets are highly volatile — always DYOR before making any decisions.
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