Bits of Gold was founded in 2013 by Jonathan Rouach, an engineer and entrepreneur, who founded several companies in the field of Blockchain. In 2014, the company completed a financing round of $ 0.5 million from private investors from the financial sector and the Bitcoin community, and is currently managed by Youval Rouach.
At the beginning of its way, Bits of Gold was registered as a licensed provider of currency services by the Israel Ministry of Finance, and worked with the chairman of the Israel Anti Money Laundering Authority at the time, Adv. Paul Landes, to create joint work procedures. Bits of Gold currently manages a system of reports to both the Anti Money Laundering Authority and its various vendors in accordance with AML Policy subject to Israeli law.
The company offers buying and selling services of Bitcoin and Ethereum in exchange for ILS, USD and EUR via bank transfer, cash and credit cards. Among the clients the company provides services to private investors, companies, funds and more. In addition, Bits of Gold serves as a liquidity provider of Bitcoin and Ethereum for exchanges, and operates a high-volume brokerage and OTC trading floor.
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.