Israel’s stock exchange, the Tel Aviv Stock Exchange (TASE), has announced that it will develop a new platform focused on trading digital assets.
Five-Year Strategy
The stock exchange initially opted for a five-year strategy. This is because they reportedly see a crucial opportunity for the integration of an Israeli exchange into digital assets in the next 5 years. The development of the platform will start in 2023 and will end in 2028, with a possible extension until 2029.
With the development of this new program, the exchange aims to strengthen its position by establishing a blockchain-based system. The platform will fully integrate crypto, including various DLT technologies, tokenization of various digital assets and smart contracts.
Digital Government Bonds in Israel
It is probably one of the first stock exchanges to start setting up such a platform. It suggests that stock markets around the world see crypto as something serious and don’t want to lag behind innovation in this area.
It has also been announced that Israel’s Ministry of Finance has entered into a new partnership to test digital versions of government bonds in an effort to institutionalize crypto in the country.
It is worth noting that Israel is certainly not the only country to want to digitize financial instruments. Within the EU, for example, a DLT Pilot Regime will be rolled out in March of 2023. In this experiment, both traditional and new financial players will be encouraged to practice trading tokenized securities. A full platform for this from the EU may follow below. It is not yet known when this will eventually be launched, but it is a positive sign that it is being worked on.