Regulator grants second crypto license

Bits of Gold has received a perpetual license for financial services companies.

Today, Moshe Bareket, Commissioner for Capital Markets, Insurance and Savings, awarded crypto broker Bits of Gold a permanent license for financial services firms. 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.

Founded in 2013, Bits of Gold provides virtual currency sales and custody services. The permanent license will make it easier for its customers to transfer funds from the bank to the financial system and back, in accordance with Proper Banking Procedure 411, which will take effect in November.

Bits of Gold serves more than 150,000 Israeli customers. It was the first company to enter into partnerships with companies overseen by the Bank of Israel. With credit card company Max, it recently launched the MaxBack Crypto credit card, which gives card users cash back in the form of Bitcoin. Max was also selected as the company’s clearer, allowing customers to purchase Bitcoin and Ethereum using their credit cards.

Published by Globes, Israel business news – – on September 18, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Cryptocurrencies Credit: Shutterstock

Cryptocurrencies Credit: Shutterstock

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