The stock market is “venturing into cryptocurrencies” and will explore the technologies underpinning the digital asset market.
The Tel Aviv Stock Exchange (TASE) , Israel’s only public trading platform, is looking to establish a blockchain-based digital asset trading platform , according to a published strategy document. .
TASE is looking to “drive the implementation of innovative technologies” and will explore the use of distributed ledgers (DLTs) for record-keeping, encryption and smart contracts to improve infrastructure existing markets and provide “digital asset products and services”.
Itai CEO Ben-Zeev said that the next five years represent an 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 lawmakers are also interested in encouraging regulated crypto activity 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.
The inclusion of cryptocurrencies in TASE’s strategy is a “seal of approval” for cryptocurrencies.
“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 ,” Samocha said.