Israel Discount Bank is reportedly preparing to offer Bitcoin and Ethereum trading through its app, bringing crypto closer to everyday banking. But the launch date, custody arrangements and full cost remain unclear.
- Reported offering: Bitcoin and Ethereum through the bank’s app.
- The November 26 launch date has no year attached.
- A reported 2% fee per trade still needs confirmation.
- Custody, withdrawals and the “first bank” claim remain unsettled.
Under the reported plan, eligible customers could buy, hold and sell Bitcoin and Ethereum through Discount Bank’s mobile app and bank accounts, without opening an account at a separate exchange. The bank reportedly announced the service on November 11, with a launch scheduled for November 26.
Neither date includes a year. From the dates alone, it’s impossible to tell whether the service is still on the way or has already launched. The reported terms should also be treated as provisional until the bank confirms them in customer documentation.
Bank access is not the same as self-custody
The reported eligibility rules cover private customers aged 18 or older who have accounts enabled for securities activity, subject to the bank’s terms. The service is said to use Fireblocks digital-asset infrastructure for bank wallets, with sale proceeds returned to customers’ bank accounts.
This could make buying crypto easier for customers who would rather avoid a standalone exchange, wallet software or recovery phrases. But convenience doesn’t answer the key question: who controls the private keys?
The available details don’t say whether customers can withdraw their Bitcoin or Ethereum to an external wallet, who controls the keys, or what protections apply if the bank or a service provider runs into trouble. Fireblocks’ involvement identifies an infrastructure provider. It doesn’t, on its own, establish the custody model.
Check the full cost, not just the account-fee waiver
Discount Bank is reportedly waiving account-management fees for the first six months. Trading commissions have separately been reported at 2% per purchase or sale, but no named fee schedule or further details accompany that figure.
If a 2% charge applies to the full purchase amount and the full sale proceeds, buying and later selling would mean 4% in commissions across the round trip, before any spread or other costs. That’s an illustration, not a confirmed total. Customers should check the final terms for additional charges and how the commission is calculated.
The bank is also said to offer an option to offset gains and losses from digital-asset activity against other portfolio investments for withholding-tax purposes. Withholding tax is collected or set aside at a particular point. The reported description doesn’t explain how the offset would work, who would calculate it or which customers would qualify. It doesn’t guarantee a lower final tax bill.
Who gets to call themselves “first”?
Discount Bank is being described as Israel’s first bank to offer direct in-app crypto trading. Bank Leumi has also announced plans for a digital-asset service with Galaxy Digital. Galaxy’s announcement described the effort as a way for Leumi to become the first bank in Israel to offer digital-asset trading, complicating any unqualified “first” claim.
Reports describe Leumi’s planned service as a future offering through the Leumi Trade app, with Bitcoin, Ethereum and Solana among the intended assets and a launch expected in early 2027. Those details, like Discount Bank’s reported terms, need to be checked against current bank announcements. A planned service is not the same as one customers can use.
The two “first” claims could refer to different milestones: announcing a plan, launching a service or making trading available to customers. Until the timing and product details are clear, “first” needs a precise definition, not a victory lap.
Key questions for customers
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Which cryptocurrencies are planned at launch?
Bitcoin and Ethereum are the reported initial assets for Discount Bank. Solana has been mentioned in reports about Leumi’s separate plan.
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When is Discount Bank’s service expected?
The reported date is November 26, but the year is unspecified, so the timing can’t be established from that date alone.
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Who may be eligible?
Reportedly, private customers aged 18 or older with accounts enabled for securities activity, subject to the bank’s terms.
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Will customers control their private keys?
That hasn’t been established. The reported use of Fireblocks infrastructure doesn’t confirm who controls the keys or whether external withdrawals are allowed.
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What fees are reported?
Account-management fees are reportedly waived for six months, while trading commissions have been reported at 2% per purchase or sale. The complete fee schedule remains unclear.
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Does the tax feature guarantee savings?
No. The reported feature concerns offsets for withholding-tax purposes, but its mechanics and effect on an individual’s tax liability haven’t been explained.
Bank-based trading could put Bitcoin and Ethereum within reach of customers who wouldn’t use a separate exchange. Whether the convenience is worth the cost depends on the final fee schedule, custody terms and ability to move assets. Until those details are published clearly, customers should treat the reported features and the “first” claim as unconfirmed.
