The Israeli exchange “Vitz of Gold” has obtained permission for the local capital market.

According to CoinDesk on the 22nd (local time), Israel’s top market regulator, the “Capital Market Bureau,” granted permission to operate the local cryptocurrency exchange “Vitz of Gold.” It has been about four years since I applied for permission in 2018.

With the capital market license, Vitz of Gold will be able to cooperate with local banks and financial institutions.

The exchange said it is helping local authorities gain cooperation from the banking industry, which is reluctant to handle cryptocurrency.

Vitz of Gold explained, “The authorities’ permission and the recent central bank statement have been able to solve most of the bank problems that the exchange has encountered.”

Meanwhile, the exchange stressed that “Hybrid Bridge Holdings (HBH)” was Israel’s first cryptocurrency license earlier this month, but Bitz of Gold was the first cryptocurrency company to actually operate.

HBH has only announced its plan to build a cryptocurrency consignment and trading platform, but Bitz of Gold was established in 2013 and has been active in the local market for many years.

The exchange said it plans to launch a solution that can provide cryptocurrency sales services to customers by banks and fintech companies in Israel and Europe.

In addition, it said it will start a cryptocurrency consignment service through digital wallet, which is scheduled to be released next month.