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The vision is to make crypto ownership accessible to private, business, and institutional entities

Bit2C, one of the ten oldest cryptocurrency exchanges in the world and the only one in Israel, is celebrating a decade of operations. The exchange is actively working to expand its operations and develop financial capabilities for various sectors within the Israeli market

Yoel Tzafrir, in collaboration with ICBW3. 03 September 2023

Eli Bejerano
Eli Bejerano | Photo: bit2c public relations

Bit2C, founded in 2013 and one of the ten oldest cryptocurrency exchanges in the world, is also the only one based in Israel. The founders, Eli Bejarno, who serves as CEO, and Hadar Makdassi, the CTO, are focused on developing a comprehensive Bitcoin and crypto platform that supports Bitcoin, Ethereum, Litecoin, and USDC.

Bit2C distinguishes itself from competitors with its unique technology, which is developed in-house. This technology spans all components of the platform, from management and control systems to transaction management and the user interface. The platform facilitates daily transactions for both private and business customers through several channels: peer-to-peer trading on the exchange (notably, the only one in Israel), buying and selling via OTC services and its brokerage, as well as cryptocurrency custody, and handling deposits and withdrawals in shekels and cryptocurrencies. The company is based in Holon and employs 13 people.

In addition to Bit2C, three other exchanges operate in the local crypto market. About two months ago, Bit2C received an expanded NSP (financial services provider) license from the Capital Markets Authority. This license supports a larger selection of currencies and enables more diverse financial tools. However, for Israeli customers, using a platform specifically tailored to their needs can provide significant advantages.

As of today, the company is stable and is in the phases of establishment and expansion. Since its inception, it has processed transactions totaling approximately two billion shekels. To date, it has successfully raised capital of 5 million shekels in exchange for shares, partly through an offering coordinated by 'Peoplebiz.' Currently, the company boasts over 1,000 shareholders.


What is the main challenge your company faces?

"Every few months, a new scandal emerges in the crypto world. From day one, we have operated as White Hats, avoiding any activities that do not comply with industry regulations. We believe there is still significant work to be done to bridge the gap between the complexity of decentralized currency networks and the everyday activities of our customers."

What are your expectations regarding regulation?

"Regulation in Israel is somewhat lagging compared to the rapid advancements occurring globally in the field. While there are clearer operational frameworks now than there were three to five years ago, substantial work still lies ahead. We urge regulators to adopt a more permissive approach."

What is the company's vision, and what are your future plans?

"Despite the great media resonance, adoption of Bitcoin and crypto is still in the very early stages of assimilation, in Israel and abroad. We are working to expand our activity, create collaborations and develop valuable capabilities for different verticals in the market - private, business, financial and institutional entities. You have to remember, we have been active for over a decade, an eternity in crypto terms, and we have survived long and difficult downturns. We did this with determination to continue leading the crypto industry in Israel. Our vision is to make crypto ownership accessible to private individuals, business companies and institutional bodies in Israel."

In collaboration with ICBW3.


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