End to the crypto nightmare with banks? Altshuler Shaham in a market-breaking move
Horizon, a company under the Altshuler Shaham group, is launching a move that solves the main headache for investors and allows for the transfer and liquidation of digital currencies purchased on foreign exchanges into the banking system.
A real breakthrough for digital currency investors in Israel: Horizon, a company under the Altshuler Shaham group, is expanding its operations and launching a service that changes the rules of the game. While until today investors were limited to a "closed garden" and could only liquidate assets purchased through the company itself, the transition to an "open garden" now allows for the transfer of coins purchased on foreign, regulated exchanges, storing them on the platform, or liquidating them for monetary proceeds.
The move is intended to solve the main headache for investors: the difficulty of liquidating assets from abroad due to the strict requirements of banks to prove the source of funds and document transactions. As part of the service, which will be provided for transactions of $10,000 and above, Horizon will perform rigorous checks of the source of funds, activity history, and the purchase platform, and will provide the certification required by regulation.
Ilan Stark, CEO of Horizon, PR Horizon
After completing the in-depth checks and approving the activity, clients will be able to liquidate their assets with peace of mind. Horizon will deduct the capital gains tax as required by law and transfer the funds directly to the banking system. The process is based on the company's close and ongoing cooperation with the banks and offers a regulated, documented, and transparent path that prevents unnecessary blocks and delays.
"The service was born out of a real need from clients who were looking for a safe and orderly way to liquidate assets purchased outside the platform," explains Ilan Stark, CEO of Horizon.
According to him, this is evidence of the maturation of the Israeli crypto market: "The need to connect the crypto world with the traditional financial system is becoming critical. We will continue to invest in infrastructure that will allow investors to operate with confidence, while removing barriers and creating added value."
