Israel's Markets Regulator Grants First Crypto License to Private Company: Report

Israel's Capital Markets, Insurance and Savings Authority granted a first permanent license to a private company, Hybrid Bridge Holdings Ltd., to engage in crypto activities, local media outlet Globes reported Wednesday.

  • Many companies looking to engage in the crypto industry are still in the process of getting approval from the regulator, the report said.
  • Hybrid Bridge is a private Israeli company incorporated in 2021. It's unclear what kind of crypto services the company intends to provide, but it has an active license as a financial services provider in the country.
  • In February, global crypto exchange Binance came under the regulator's scrutiny over licensing issues. The Capital Markets Authority ordered Binance to suspend marketing to Israeli users and stop all activities focused on Israel until the issues were sorted.

Read more: Binance Halts Activities in Israel Following Regulator Intervention: Report