Israel’s TASE announces plans to venture into cryptocurrency and blockchain
Israel’s main and only stock exchange, the Tel Aviv Stock Exchange (TASE), has included the creation of a blockchain platform for investing in cryptocurrencies in its 2023-2027 development strategy. According to the press release, TASE is going to strengthen the use of innovative technologies, including blockchain, tokenization of various asset classes, as well as implementation of smart contracts.
The exchange will consider several options for the implementation of its plan, including the transfer of the current infrastructure to new technological solutions, their implementation in specialized platform and the creation of various services and products related to digital assets.
Given that the previous strategic plan was successfully completed, there is no doubt that cryptocurrencies and blockchain will arrive on the site of the main Israeli financial platform, despite a lack of clear dates so far. As a result of the new strategy, management has seen a 10-12% increase in revenue for TASE over the next five years.
Crypto and Israel
Israel is a rather crypto-friendly country. For example, the country’s central bank has been studying the possibility of launching a digital shekel for several years and even conducted a pilot launch on Ethereum. Recently, the government placed a pilot issue of tokenized bonds.
In addition, Israeli banks such as Bank Leumi offer crypto trading, and bank card companies Max and Isracard allow cardholders to buy cryptocurrencies.