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Israel taps blockchain tech for digital asset trading platform

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Israel’s only stock trading platform, the Tel Aviv Stock Exchange (TASE), has announced its entry into cryptocurrencies. platform For trading digital assets.

According to the stock exchange’s strategy document, the TASE trading platform will be built using blockchain technology. Plans to move to blockchain are underway at stock exchanges as they experiment with implementing “innovative technologies” including: smart contract When tokenization.

Creating a digital asset trading platform forms part of TASE’s four key goals. This includes improving engagement with end customers, selling technical services to other exchanges, entering the “crypto” world, and enhancing the value proposition of TASE’s core activities. The goal he plans to reach within five years.

Ittai Ben-Zeev, CEO of TASE, said: “This plan anticipates market needs and takes our development and management of innovative services and products to the next level.”

In expanding into digital services, TASE said it will consider a number of action plans, with converting existing infrastructure to blockchain as a top priority. The move will see TASE offer a suite of services tailored to digital asset users, which could also include “deploying innovative technology on a specialized platform.”

In the document, the stock exchange confirmed it had achieved its previous five-year goals, including transforming from a non-profit into a profitable company and becoming a major player in Israel’s capital markets.

Israel strives for digital asset leader status

Israeli administrators are moving towards using blockchain to transform operations in certain key sectors, with the financial services industry having the most applications.

The national finance ministry and TASE Issuance of government bonds We are trying to institutionalize digital assets. The pilot includes the following technical assistance: fire block When VMwarea company with experience working in Israel’s digital services ecosystem.

The country’s central bank is also conducting several experiments towards the launch of a Central Bank Digital Currency (CBDC). issued Multiple licenses to Digital Service Operators meeting minimum benchmarks.

Israel faces a tough test to assert its dominance amid stiff competition from emerging digital asset hubs such as: United Arab EmiratesSaudi Arabia and Bahrain in the Middle East.

Watch: BSV Global Blockchain Convention panel, Blockchain Venture Investments: Driving Utility for a Better World

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