The Tel Aviv Stock Exchange (TASE) has announced a strategic partnership with digital asset platform Fireblocks to jointly provide a series of new digital asset products and services. This partnership marks an important milestone in Israel’s integration of blockchain and cryptocurrency into its financial landscape.
TASE, a pillar in Israel’s financial market, is positioning itself to extend its offerings into the crypto industry through Fireblocks’ expertise in moving, storing, and issuing digital assets. Fireblocks’ CEO, Michael Shaulov, commented on the collaboration as building upon the success of Project Eden, reflecting the significance of the partnership in the future of Israel’s economy.
The TASE announced that through a new partnership, it will be able to offer regulated entities with top-quality digital asset solutions. Also, TASE clearing executive Orly Grinfeld also praised the agreement, stating it was a “monumental leap forward in the global digital assets landscape.”
Michael Shaulov, the CEO and co-founder of Fireblocks, stated that the company’s recent partnership with TASE is a continuation of their successful Project Eden. This initiative aims to utilize blockchain technology for the issuance and settlement of digital government bonds. Fireblocks and BlockFold, a crypto firm, participated in the proof-of-concept phase of the project, which was completed in June 2023.
Israel’s ongoing commitment to crypto regulation and innovation
In addition to the partnership with Fireblocks, the Israeli government has been proactive in its approach to regulating the emerging cryptocurrency industry within the nation. Last month, a special examination team was formed to regulate decentralized governance organizations (DAOs), emphasizing a balanced approach between innovation and stakeholder protection.
The TASE has been consistently advancing its involvement in the crypto industry, having officially announced plans for a blockchain-based digital asset platform in October 2022 and proposing an expansion of crypto trading to non-banking members in March 2023.
Conclusion
The collaboration between the Tel Aviv Stock Exchange and Fireblocks signifies Israel’s strong momentum in adapting to the crypto industry. Through strategic partnerships and a commitment to balanced regulation, Israel is positioning itself at the forefront of global cryptocurrency innovation.
Source: https://www.cryptopolitan.com/tel-aviv-stock-exchange-teams-up-with-fireblocks-to-launch-digital-asset-services-in-israel/