Israel’s Tel Aviv Stock Exchange (TASE) is set to expand its offerings into the cryptocurrency realm through a new partnership with the digital asset platform Fireblocks. The collaboration aims to introduce institutional-grade digital asset solutions for regulated entities in the Israeli market.
The Tel Aviv Stock Exchange (TASE) is Israel’s only public stock exchange, offering a regulated marketplace for trading various financial instruments, including stocks, bonds, government securities, and derivatives.
It facilitates capital formation and investment opportunities while operating under the oversight of the Israel Securities Authority (ISA) to ensure market integrity and investor protection.
Fireblocks is a digital asset platform offering secure solutions for moving, storing, and issuing digital assets, primarily targeting institutional clients in the cryptocurrency and blockchain industry. Its services prioritize security and compliance to meet the needs of financial institutions and asset managers.
The Tel Aviv Stock Exchange officially announced its plans to develop a blockchain-based digital asset platform in October 2022. In March 2023, TASE proposed an expansion of crypto trading activities to non-banking members, aiming to offer licensed providers for crypto trading and custodial services.
TASE’s Head of Clearing, Orly Grinfeld, praises the partnership with Fireblocks as a significant advancement in the global digital assets landscape. The collaboration leverages TASE’s market experience and Fireblocks’ technology for handling digital assets.
Michael Shaulov, CEO of Fireblocks, highlights the success of the previous Project Eden collaboration, which focused on blockchain-based government bonds. He expresses optimism about TASE’s exploration of digital asset products contributing to Israel’s economy.
Last month, the Israeli government, in a bid to establish robust regulations for the crypto industry, formed a special examination team to regulate decentralized governance organizations (DAOs).
The team’s objective is to assess the use of crypto tokens within DAOs and develop a regulatory framework that balances innovation with stakeholder protection.