Banks Put Crypto Trading Inside Their Own Apps as Exchanges Move Behind the Scenes
- Bank Leumi said it will work with Galaxy Digital to let 2.5 million retail customers buy, sell, and hold BTC, ETH, and SOL in the Leumi Trade app.
- Galaxy Digital is expected to provide the trade execution, custody, and liquidity backend, while Bank Leumi handles the customer relationship, KYC, compliance, funding, and brand.
- The report says this model turns banks into the customer-facing layer and crypto firms into infrastructure providers hidden behind the bank app.
- It also cites similar partnerships involving Galaxy and large traditional financial institutions such as BNY Mellon and Morgan Stanley.
- The article argues that this shift could pressure retail crypto exchanges while strengthening demand for back-end trading, custody, and staking infrastructure.
Bank Leumi said it plans to let its retail customers trade and hold major cryptocurrencies inside its own Leumi Trade app through a partnership with Galaxy Digital. The bank would keep the customer-facing relationship and compliance functions, while Galaxy would handle execution, custody, and liquidity behind the scenes.
The article presents this as part of a broader shift in crypto distribution: banks own the interface and trust relationship, while specialized firms supply the trading and custody rails. It says this makes Galaxy more of an infrastructure provider than a consumer-facing crypto brand.
The report also points to similar institutional deals involving Galaxy and large banks and wealth managers. For markets, the development is likely neutral to slightly positive for BTC, ETH, and SOL adoption, but potentially negative for retail exchange competition and related public exchange brands.
银行把加密货币交易放进自家应用中，交易所更多退居后台
Bank Leumi 表示，将通过与 Galaxy Digital 的合作，把主要加密货币交易和持有功能放进自家的 Leumi Trade 应用中。银行保留面向客户的关系、合规和资金入口，Galaxy 则在后台负责撮合、托管和流动性支持。
文章把这一做法概括为加密分销模式的变化：银行掌握界面和信任关系，专业机构提供交易和托管基础设施。按文中的说法，Galaxy 因而更像基础设施供应商，而不是面向消费者的加密品牌。
报道还提到，Galaxy 今年已经与多家大型银行和财富管理机构达成类似合作。对市场而言，这一趋势对 BTC、ETH 和 SOL 的普及可能偏中性至略偏利好，但对零售加密交易所的竞争环境以及相关上市公司品牌可能形成压力。