Bitcoin News- The creation of new kinds of tokenized digital assets will be the primary focus of the exchange.
- A paper outlining Tel Aviv’s blockchain-related goals from 2023 to 2027 was made available.
As Israel’s only stock and debt marketplace, the Tel Aviv Stock Exchange (TASE) is planning to launch a blockchain and digital asset trading platform. The creation of new kinds of tokenized digital assets will be the primary focus of the exchange, with a secondary emphasis on the advancement of distributed ledger and smart contract technology.
Blockchain and Crypto World Both on List
As of Monday, a paper outlining Tel Aviv’s blockchain-related goals from 2023 to 2027 was available online. As one of its four main objectives is to “establish a platform for digital assets based on blockchain (DLT)” and to “enter the crypto world” were both on the list.
CEO Itai Ben-Zeev said in the paper:
“Ben-Zeev also said that the exchange will make use of Israel’s “domestic advantage” in fintech development and adoption. There are numerous factors to consider, but one possibility is that it may begin transitioning parts of its current technology infrastructures toward blockchain and other “innovative technologies,” while also releasing new digital asset products.”
In other words, this is hardly a novel idea. More governments throughout the globe are considering how to use blockchain technology to enhance their current markets’ infrastructure. Like Tel Aviv announced on Monday, the European Union has authorized a pilot for blockchain-based securities trading.
The crypto industry is only beginning to blossom in Israel. Leumi, the biggest bank in Israel, teamed with Paxos in March to provide Bitcoin and Ethereum trading services to its customers. In June, a prominent Israeli venture capital company opened a Web3 fund, and in September, Bits of Gold, a local cryptocurrency exchange, received the first capital markets license from the country’s regulator of capital markets.
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Source: https://thenewscrypto.com/israels-tase-stock-exchange-to-launch-crypto-trading-platform/