The virtual currency of Israel is a digital asset that has been gaining traction among investors who are seeking a stable alternative to traditional currencies, as Israel gears up for a presidential election.
The virtual currencies of the country’s two main political parties have soared in value amid the countrys current economic crisis, making them more attractive for speculators and investors.
On Thursday, the Jerusalem Post reported that Israel’s two largest virtual currency exchanges, Jumad and Bitrex, were among those using virtual currency.
The country’s digital currency industry is now a billion-dollar business.
“I have been doing it for a long time.
I was one of the founders of Bitrex and we were the first ones to offer virtual currency on the Bitrex platform,” said Yoav Yashin, CEO of Jumada, the largest of the virtual currency platforms.
“Bitrex has now expanded to other exchanges, and we are looking to expand further,” he added.
Yashins company, which is based in Tel Aviv, is one of three virtual currency companies that also operates on the Israeli stock exchange and has recently raised funds to invest in the digital economy.
He said his company, like others, uses the cryptocurrency as a means of transferring funds among users, so that investors can transfer funds from one platform to another without worrying about the exchange rates.
Bitrex has partnered with the Tel Aviv Stock Exchange and has received support from the Israeli government, which has allocated a portion of its revenue for digital currency.
However, Yashines investment firm, Bitrex Holdings, has faced a series of issues and difficulties, including an audit by the Financial Services Authority, and a recent audit by FinTech giant Bitrex Labs, which said the firm was failing to disclose its compliance with anti-money laundering regulations.
Bitrex has also been hit by a series, including a hack that left thousands of customers’ bitcoins locked away.
According to Yashina, the problems at Bitrex have led to a lack of transparency in the company.
“A lot of companies are using this, and not transparent about it,” he said.
“When we started Bitrex in 2012, it was a new technology and we had to educate people.
There is not a lot of information about the process of using the platform.”
Yashinas company Bitrex had been based in the United States for more than 10 years and had offices in Tel-Aviv and Jerusalem.
“The fact that we are based in Israel has given us a lot,” he noted.
BitREX also launched its own digital currency platform in October.
BitReX is a platform that uses Bitrex’s blockchain technology, which allows users to transfer funds in an instant.
The platform has an online shop and an app that allows users the option to buy, sell, trade and store virtual currencies.
BitRex has also launched a partnership with Bitrex for the use of its blockchain technology.
The partnership aims to provide the same functionality that Bitrex offers to its users, including direct payments, exchange rates, and trading.
BitX is owned by Bitrex.
The new digital currency exchange also aims to help Bitrex expand its network of exchanges.
Bitx has said it plans to start accepting bitcoin by the end of the year.
“We will be introducing the first bitcoin exchange in the country, which will be located in Tel Aviv,” Yashino said.
Bitres of Israel also announced it will begin accepting bitcoin in November.
BitEX has been the first Israeli company to launch its own bitcoin exchange.
The company was founded in February by a group of Israeli developers.
The team was also among the first to integrate bitcoin into its service.
“It’s very exciting for Bitrex to have Bitrex as one of its first customers,” said Yashim Barak, chief executive of Bitex.
“Since the start of the Bitcoin market in 2014, BitEX users have been using Bitrex since 2013.
The launch of BitEX is a step towards the digital asset industry in Israel,” Barak added.
Bitex is not the only one using Bitex as a platform to facilitate virtual currency transactions.
The Tel Aviv-based Bitres, a leading exchange, has also partnered with Bitex to allow users to convert digital currency into local currency at a lower cost than in the traditional currency system.
“Our team has already established a strong relationship with BitEX,” Baral said.
Baral added that the exchange will offer a new feature for BitEX customers: an alternative to the traditional way of buying and selling bitcoin.
“They will be able to purchase bitcoins directly from Bitrex without having to pay for an account,” he explained.
The Israeli company said that it plans on launching an alternative service to the BitX platform later this year.