A New Crypto Star – The Tel Aviv Stock Exchange (TASE) wants to dive into digital assets, helping to try to make Israel the promised land for cryptocurrency trading.
Cryptocurrencies enter the Tel Aviv Stock Exchange
Through the front door. In a press release dated October 24, the Tel Aviv Stock Exchange announced the creation of a blockchain-based platform to develop its cryptocurrency trading services. This project is part of the new strategic plan of the scholarship, for the period 2023 – 2027.
During this five-year term, the Tel Aviv Stock Exchange wants to encourage the use of ” innovative technologies including blockchain, technologies related to asset tokenizationand the smart contracts. It could also offer a range of services and products related to digital assets.
This announcement of the LEVEL comes five days after the exchange revealed a joint initiative with the Ministry of Finance, a pilot project that aims to analyze issuing digital government bonds on a blockchain infrastructure.
This five-year plan thus adds to other positive signals regarding the growing adoption of cryptocurrencies in Israel. In the medium and long term, the country could become fertile ground for the development of cryptocurrencies, in particular thanks to a increasing regulatory clarity of the sector.
By way of example to illustrate the regulatory efforts made in the country, last September the main market regulator in Israel issued a license to the crypto exchange israeli Bits of Gold. This license for financial service providers in cryptocurrencies allows Bits of Gold to work with local banks and financial institutions.
Israel is definitely entering the blockchain and cryptocurrency race. This new development axis of the Tel Aviv Stock Exchange regarding its blockchain platform should serve as a catalyst for the rise of digital assets in the country.
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