Former President Reuven Rivlin Champions Digital Shekel at Bitcorp Capital
Former Israeli President Reuven Rivlin, now president of fintech firm Bitcorp Capital, unveiled an ambitious vision for a digital shekel and crypto integration as the company launched trading with a valuation under 60 million ₪.
Former Israeli President Reuven Rivlin has stepped into a radically different arena: the world of crypto and digital currencies. Serving as president of the fintech company Bitcorp Capital, Rivlin marked the opening of company trading on Thursday to outline an ambitious vision for the future of money in Israel.
Speaking on the economic channel, Rivlin highlighted the potential of developing a digital Israeli currency that could remove barriers and make financial operations much simpler and faster. "Once we have a digital shekel, we solve all the problems," Rivlin declared, explaining that the move could unlock new possibilities in the global economy.
Bridging Traditional Finance and Crypto
Rivlin noted that citizens and business owners frequently face prolonged wait times and bureaucratic hurdles even for routine transactions. The new technology is designed to enable ultra-fast transactions and reduce reliance on existing financial mechanisms. Despite the assertive message, Rivlin emphasized that the company does not seek a confrontation with the banking system, but rather aims to act as a bridge helping banks integrate into technological developments.
The launch accompanies Bitcorp Capital entering the stock exchange with a market capitalization of just under 60 million ₪. The fintech firm focuses on three main avenues: developing a stablecoin pegged to the shekel, linking digital wallets to conventional payment methods, and allowing crypto holders to receive credit from authorized institutions using digital assets as collateral.
Regulatory Compliance and Leadership
Rivlin is joined by Chairman of the Board Yohanan Danino, former police commissioner, who addressed common concerns regarding the crypto market. "The mere fact that you have bitcoins does not say anything about you except that you have digital assets," Danino stated, emphasizing that legally acquired assets should allow owners to transfer money internationally and tokenize assets.
"Once we have a digital shekel, we solve all the problems."
Bitcorp Capital operates in coordination with regulatory authorities, securing prior approvals from the Capital Market Authority and the Israel Securities Authority. The board also includes former minister Izhar Shay and senior figures from the banking and regulatory sectors.
