Bits of Gold Partners with Silver Castle to Boost Institutional Investments

Tel Aviv-based cryptocurrency exchange Bits of Gold has partnered with Silver Castle to boost crypto investment options on the platform for qualified institutional investors.

According to an announcement by the two firms, the partnership will allow crypto investors to convert their fiats to Bitcoin, which can be further invested into funds based on two financial assets - a basket of top 10 coins and algorithm-hedging futures tool for Bitcoin.

Furthermore, Silver Castle will also cash out the investors' profits once they get to liquidity point.

Commenting on this partnership, Tomer Niv, chief growth officer at Bits of Gold, said: “We are thrilled from the new partnership with Silver Castle, as their founders have vast experience and knowledge of both classic investments and cryptocurrencies investments. We believe it's [the] first step towards a new segment of institutional clients, and we hope to see more and more funds and investment houses shifting towards crypto.”

Israel’s First Crypto Investment Firm

Silver Castle is Israel's first dedicated cryptocurrency investment firm for institutional and accredited investors, according to Bloomberg. Last November, the firm launched two crypto investment funds which are registered in the Cayman Islands.

According to Silver Castle’s website, it also provides advisory services to Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term firms opting for initial coin offerings (ICO) along with its asset management service.

The company’s lineup includes Zvi Ziv, former chief executive officer of Israel’s largest bank Bank Hapoalim, and Gabriella Ravid, founder and former CEO of Psagot Ofek Investment House, the country’s largest investment fund.

Last December, Bits of Gold announced the development of a new application program interface (API) service for cryptocurrency Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to facilitate local businesses to accept cryptocurrencies as payments.

When compared to other parts of the world, the crypto penetration in Israel has a long way to go. However, the exchange CEO Youval Rouach earlier claimed that the number of Bits of Gold’s client remained steady despite the bear market.