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The rationale is to enable everyone to invest in the crypto market in a straightforward and proper way

Proxibit has established an innovative platform for managing investments in the cryptocurrency sector, featuring seven smart investment pathways and a wide range of currencies available in Israel. Looking ahead, the company plans to enable direct investments through clients' bank accounts.

Omri Weinberg, in collaboration with ICBW3. 03 September 2023


Elad Nomberg and Chaim Venezia
From the right: Elad Nomberg and Chaim Venezia | Photography: Yael Tzur

Proxibit was founded in 2017 by Proxima Investment House to serve as a digital asset investment firm. 'The rationale for establishing Proxibit was to make investing in the crypto market accessible and straightforward for everyone,' explains Haim Venatia, CEO of Proxima Investments. 'The company has developed an innovative platform for managing crypto investments, featuring seven smart investment routes and a wide selection of currencies available in Israel. Additionally, the service includes tax deduction options.

 

How is this implemented in practice?


"All customers need to do is register for the service, select a management policy for their currency portfolio, and make a deposit. They can monitor their portfolio status in real time and submit requests to change policies, or to deposit or withdraw funds."

 

Elad Nomberg, the director of the field, notes that the company operates under a provisional license as a financial services provider and is awaiting a permanent license from the Capital Market, Insurance, and Savings Authority. "We are proud to be the only company in Israel offering such a comprehensive service in the digital currency market. This includes buying and selling coins, maintaining them to strict security standards, managing portfolios according to client policies, and handling tax deductions—all under one roof.


In essence, we provide complete investment management from A to Z, ensuring peace of mind for our investors. Our clientele is diverse, encompassing private individuals, companies, and large corporations. However, the majority are private customers who are new to the digital currency market and seek a simple and intelligent investment solution. Our advantage lies in both our innovative investment routes and our efficient tax handling."

 

What do you believe are the challenges facing the industry in which you operate?


"First and foremost, restoring public trust following incidents like the crash of the Luna cryptocurrency (LUNA) and the FTX crypto exchange collapse is crucial. The second challenge is regulatory clarity, both in Israel and globally. Although significant progress has been made, much work remains to establish comprehensive regulations that allow all types of companies—from those developing new technologies to trading firms—to operate within a clear and proper framework."

 

What is the company's vision?


"The company's goal is to make the world of cryptocurrency accessible to everyone in Israel and to facilitate simple and intelligent investment in the crypto market. In the future, we plan to enable direct investments through customers' bank accounts."



In collaboration with ICBW3.


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