Today, Capital Markets, Insurance and Savings Commissioner Moshe Bareket awarded crypto broker Bits of Gold a permanent financial services provider license. Earlier this month, HBH received the first such license awarded to a cryptocurrency company in Israel. Unlike HBH, which is an infrastructure company, Bits of Gold is an active broker.
Bits of Gold, which was founded in 2013, provides sale and custodial services for virtual currencies. The permanent license will make it easier for its customers to transfer money from it to the financial system and back again, in accordance with Proper Banking Procedure 411, which will come into force in November.
Bits of Gold serves over 150,000 Israeli customers. It was the first company to launch cooperative ventures with companies regulated by the Bank of Israel. With credit card company Max it recently launched the MaxBack Crypto credit card, which gives users of the card cash back in the form of Bitcoin. Max was also selected as the company’s clearer, enabling customers to buy Bitcoin and Ethereum using their credit cards.
Published by Globes, Israel business news - en.globes.co.il - on September 18, 2022.
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