Background

Bates of Gold was founded in 2013 by Yonatan Rouach, an engineer and entrepreneur in Lokachin, who founded several companies in the field. In 2014, the company completed a financing round of $ 0.5 million from private investors from the financial sector and the Bitcoin group, and is currently managed by Youval Rouach.

Since its inception, Bates of Gold has been licensed as a provider of currency services by the Ministry of Finance, and worked with then-chairman of the Israel Money Laundering Prohibition Authority, Adv. Paul Landes, to create joint working procedures. Bates of Gold currently manages a system of reports to both the Money Laundering Prohibition Authority and its various suppliers in accordance with a policy of prohibition of money laundering that is subject to Israeli law.


Services

The company offers the Israeli public buying and selling services of Bitcoin and Itrium in exchange for shekels, dollars and euros via bank transfer, cash and credit cards. Among the clients the company provides services can be found private investors, companies, funds and more. In addition, Bits of Gold serves as a liquidity provider in Bitcoin and Atrium for stock exchanges, and operates a high-volume brokerage and OTC transaction.


Infrastructure

The company has a customer base of more than 50,000 registered customers, which is constantly growing, and a staff of about 20 people, including a compliance officer. The company operates from its offices in Tel Aviv.

Bates of Gold receives accounting, financial and tax consulting services from Ernst & Young, and legal consulting services from the Zionist firm Pilersdorf Philip, a lawyer specializing in banking and Pintek. Bates of Gold has a privacy policy under Israeli and European law and is in the process of registering a database and obtaining the ISO 27001 standard.


Read more about the history of Bits of Gold in our blog.