Israeli start-up begins cash-to-Bitcoin services, regulation compliant

Bits of Gold is happy to announce that Israeli customers can now buy Bitcoins using cash, in all major cities in Israel.

Tel Aviv,Israel - Through a collaboration with Global Money Transfer (G.M.T), Israelis can now go to their closest exchange bureau and purchase the online currency using Israeli Shekel. Later this year, the company will enable Bitcoin to cash conversions. Bits of Gold (www.bitsofgold.co.il), started in 2013, uses G.M.T.'s extensive regulation expertise, offering strict compliance with current and future anti-money-laundering (AML) and know-your-customer (KYC) regulations. Bitcoin cash transactions are limited to 10,000 ILS (about 2,000 EUR). Bitcoin is a growing online currency system, which promotes free trade over the Internet. Bitcoin's adoption in the Israeli market has been increasing since January this year, mostly as an investment asset. “Israelis are early-adopters and many have begun to see the potential of Bitcoin technology. Our clients are demanding easy cash-to-bitcoin conversion, and we see this collaboration with G.M.T as a great way to meet that need while complying with the highest standards of cash regulation.” says Bits of Gold CEO, Jonathan S. Rouach. Bits of Gold is the largest on-line Bitcoin exchange in Israel. It provides easy and regulation-compliant services for conversion between the Israeli Shekel and Bitcoin. The company is expanding its operations in other markets with rising Bitcoin adoption, starting with South America and the Middle East. G.M.T is the Israeli leader in money transmission services, with over 12 years of expertise in regulation compliance as a Money Service Business, and over 150 branches in Israel.