Banks Move Crypto Trading Into Their Own Apps as Exchanges Shift to Backend Infrastructure
- Bank Leumi said it will partner with Galaxy Digital to let 2.5 million retail customers buy, sell and hold bitcoin, ether and solana in the bank's Leumi Trade app.
- Galaxy Digital will provide trade execution and custody on the backend, while Bank Leumi keeps the customer relationship, KYC, compliance, funding on-ramp and brand.
- The service is expected to launch in early 2027, according to the report.
- The article says this model is part of a broader shift in which crypto exchanges and infrastructure providers increasingly serve banks and asset managers rather than retail users directly.
- It notes that Coinbase institutional head John D'Agostino described banks' options in crypto as buy, build or rent, and argued most would choose to rent infrastructure.
- The piece suggests the trend could pressure retail exchange brands while supporting back-end providers such as Galaxy, Coinbase Prime and Fireblocks; the market impact on crypto is potentially neutral to mildly supportive for infrastructure-linked firms.
Bank Leumi said it plans to let its 2.5 million retail customers buy, sell and hold bitcoin, ether and solana directly inside its Leumi Trade app. The bank is working with Galaxy Digital, which will handle trade execution and custody on the backend. The launch is expected in early 2027.
According to the report, Bank Leumi will keep the customer-facing functions: client relationships, KYC, compliance, funding flows and the bank brand. Galaxy will supply the trading and custody infrastructure through its institutional platform and custody subsidiary. The article describes the arrangement as a licensed distribution model rather than a bank-built trading stack.
The piece frames the deal as part of a wider shift in crypto, where banks and asset managers package trading and custody services through their own products while exchanges and infrastructure firms move into the background. It says this could reshape how value is split in the industry, with banks keeping the customer layer and infrastructure providers earning service fees. For markets, the effect is potentially neutral overall, with a modestly supportive read-through for crypto infrastructure providers.
银行将加密交易嵌入自有应用，交易所转向金融体系后台
Bank Leumi表示，计划让旗下250万零售客户直接在Leumi Trade应用中买卖并持有比特币、以太坊和Solana。该行与Galaxy Digital合作，由后者负责后台的交易执行和托管，服务预计在2027年初上线。
报道指出，Bank Leumi将保留面向客户的一侧，包括客户关系、KYC、合规、资金流转和银行品牌；Galaxy则通过其机构平台和托管业务提供交易与托管基础设施。文章将这一安排描述为经许可的分销模式，而不是银行自行搭建完整交易系统。
文章认为，这笔合作反映出加密行业正在出现更广泛的变化，即银行和资管机构把交易与托管能力包装进自有产品，而交易所和基础设施提供方逐步退到后台。报道称，这可能重塑行业价值分配，银行保留客户层，基础设施公司收取服务费用。对市场而言，整体影响偏中性，但对加密基础设施相关公司略偏利好。