Bits of Gold has received a permanent financial services provider license.
Today, the Commissioner for Capital Markets, Insurance and Savings, Moshe Bareket, awarded crypto broker Bits of Gold a permanent license as a financial services provider. Earlier this month, HBH received the first such license granted to a cryptocurrency company in Israel. Unlike HBH, which is an infrastructure company, Bits of Gold is an active broker.
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Bits of Gold, which was founded in 2013, provides virtual currency sales and custody services. The permanent license will make it easier for its customers to transfer money to the financial system and vice versa, in accordance with the appropriate 411 banking procedure, which will come into effect in November.
Bits of Gold serves over 150,000 Israeli customers. It was the first company to start cooperative ventures with companies regulated by the Bank of Israel. Along with credit card company Max, she recently launched the MaxBack Crypto credit card, which offers card users cash back in the form of Bitcoin. Max has also been selected as the company’s clearer, allowing customers to purchase 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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