Israeli Stock Exchange Will Launch Cryptocurrency Trading
The principal and only stock exchange in Israel, the Tel Aviv Stock Exchange (TASE), has included the building of a blockchain platform for investing in cryptocurrencies into its growth roadmap for 2023-2027.
According to the press release, TASE will increase its usage of new technologies like blockchain, tokenization of multiple asset classes, and smart contract implementation.
The exchange will evaluate a number of possibilities for the execution of its strategy, including the transfer of the present infrastructure to new technical solutions, their implementation on a specialized platform, and the development of a variety of digital asset-related services and products.
Given the successful completion of the last strategic plan, there is little question that cryptocurrencies and blockchain will appear on the site of the primary Israeli financial platform, despite the absence of specific dates at now. Over the next five years, management anticipates a 10-12% growth in TASE’s revenue as a consequence of the new approach.
Israel is rather crypto-friendly. For instance, the country’s central bank has studied the prospect of establishing a digital shekel for years and even did a test launch on Ethereum. The government recently issued a test issuance of tokenized bonds.
In addition, Israeli institutions like Bank Leumi provide crypto trading, while bank card firms Max and Isracard let users purchase cryptocurrencies.