Tel Aviv Stock Exchange establishes foundation for digital assets

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The stock market is “venturing into cryptocurrencies” and will explore the technologies underpinning the digital asset market.

Stock Exchange Tel Aviv (TASE), Israel's only publicly traded platform, is looking to establish a digital asset trading platform blockchain-based, according to a published strategy document.

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TASE is looking for a way “promoting the deployment of innovative technologies” and will explore the use of distributed ledger (DLT) for record keeping, encryption, and smart contracts to improve existing market infrastructure and supply “digital asset products and services”.

Itai CEO Ben-Zeev said the next 5 years is a important opportunity for the integration of the Israel Stock Exchange in the technological revolution that capital markets around the world are experiencing.

Israeli regulators and legislators are also concerned about encourage crypto activity managed in the country.

Earlier this year, the country's capital markets regulator awarded the first license to crypto service providers, and TASE is working with the Ministry of Finance to issue digital bonds blockchain-based.

The inclusion of cryptocurrencies in TASE's strategy is one “seal of approval” for electronic money.

“The inefficiencies of current systems must be remedied with transparency, digitization, and faster resolution. Every traditional company, public or private, will now have to better understand the impact of blockchain technology on their business model.”, said Samocha.

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