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The Tel Aviv Stock Exchange (TASE) – Israel’s sole public stock exchange – is planning to establish a blockchain and digital asset-based trading platform.

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

Focusing on Future Trends

Tel Aviv’s blockchain-related plans were detailed within its 2023 to 2027 strategy document published on Monday.

Amongst the four strategies, one was to “establish a platform for digital assets based on blockchain (DLT),” and to “enter the crypto world”.

An excerpt of the document reads:

“We see in the next five years a critical window of opportunity for the integration of the Israeli Stock Exchange in the technological revolution that the world’s capital markets are going through,” wrote CEO Itai Ben-Zeev in the document.

Ben-Zeev added that the exchange will utilize its “domestic advantage” in Israel to help broaden the development and adoption of fintech.

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.

Israel Open to Crypto

Crypto-related business is slowly gaining momentum within the Israeli borders.

In March, Israel’s largest bank – Leumi – partnered with Paxos to start offering 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.

Meanwhile, TASE  is working with the Ministry of Finance to potentially issue a digital state bond.

The bond units will be issued to the electronic wallets of test participants and paid out in digital currency.

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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