Israel's Main Stock Exchange to Launch Cryptocurrency Trading

2 min read

The Tel Aviv Stock Exchange (TASE) – Israel’s sole equity and debt marketplace – now plans to establish a blockchain and digital asset-based trading platform.

The exchange will focus on the development of distributed ledger and smart contract technologies while creating various types of tokenized digital assets.

Focusing on Future Tech  

Tel Aviv’s blockchain-related plans were detailed within its 2023 to 2027 strategy document published on Monday. Among the four strategic goals listed, one was to “establish a platform for digital assets based on blockchain (DLT),” and to “enter the crypto world”.

Ben-Zeev added that the exchange will use its “domestic advantage” in Israel to help further the development and adoption of fintech. Among its many considerations, it may start to move some of its existing technological infrastructures in the direction of blockchain and “innovative technologies,” while launching other digital asset products.

This isn’t a new concept. More jurisdictions worldwide are looking into improving existing markets infrastructure with blockchain technology. The European Union, for instance, has already approved a pilot for blockchain-based securities trading, much like Tel-Aviv announced on Monday.

Franklin CEO Jenny Johnson also praised blockchain technology in August as something that could revolutionize her entire industry, driving down costs through the use of smart contracts. “It’s also more secure from a cyber standpoint because of the distributed nature of it,” she said.

Israel Open to Crypto  

Crypto-related business is slowly starting to bloom within Israeli borders.

In March, Israel’s largest bank – Leumi – partnered with Paxos to start providing Bitcoin and Ethereum trading services. A leading Israeli VC firm launched a Web 3 fund in June, and in September, the country’s regulator of capital markets granted Bits of Gold – a local crypto exchange – the crypto industry’s first capital markets license.

Now, the TASE is working with the Ministry of Finance to potentially issue a digital state bond. Units of the bond will be issued to the electronic wallets of test participants and paid out in digital currency.

Israel's main stock exchange is about to launch the crypto exchange since the cryptocurrency exchange always brings big revenue across the world. Are you interested in launching your cryptocurrency exchange platform? Contact Bitdeal cryptocurrency exchange development company, that provides cryptocurrency exchange script.

Source: Cryptopotato


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