Leumi's Galaxy deal revives the crypto plan Israel's central bank blocked in 2022 Bank Leumi partnered with Paxos for $BTC and $ETH trading four years ago, but the Bank of Israel withheld approval and the project was shelved. Friday's @galaxyhq tie-up revives that ambition with

What happened

Bank Leumi has teamed up with Galaxy to restart a crypto trading initiative that was halted in 2022 after the Bank of Israel denied approval for a Paxos‑based Bitcoin and Ethereum platform.

Confirmed

Global impact / market context

If approved, the project could bring a regulated way for Israeli customers to trade Bitcoin and Ethereum, boosting the banks’ digital‑asset revenue and encouraging broader adoption of crypto in the country.

Analyst inference

The partnership shows that Israeli banks are still looking for ways to offer crypto services despite the central bank’s earlier refusal, indicating ongoing interest in digital‑asset trading in the region.

Confirmed

What to watch

1. Whether the Bank of Israel will now give regulatory clearance for the revived crypto trading project. Analyst inference
2. How the partnership will affect the amount of Bitcoin and Ethereum that Israeli retail investors can access. Analyst inference
3. Potential reactions from other Israeli banks that might consider launching similar crypto offerings. Analyst inference

Affected assets

• ETH — Ethereum
• BTC — Bitcoin

Evidence

• x.com