Tel Aviv Stock Exchange Partners with Fireblocks for Crypto Services

Key Insights:

  • TASE and Fireblocks join forces, revolutionizing Israel’s crypto scene.
  • Partnership paves the way for institutional-grade digital asset solutions.
  • TASE’s crypto expansion signals a new era in Israel’s economy.

The Tel Aviv Stock Exchange (TASE) is preparing to introduce regulated services in the crypto sector. This initiative results from a strategic alliance with Fireblocks, a distinguished platform for digital assets. This joint venture is poised to transform Israel’s financial ecosystem, ushering in a new array of digital asset offerings and services.

A Monumental Leap Forward in the Global Digital Assets Landscape

The TASE’s partnership with Fireblocks is a game-changer. It combines the stock exchange’s deep-rooted experience in the Israeli market with Fireblocks’ cutting-edge technology. The latter specializes in moving, storing, and issuing digital assets. Consequently, this collaboration will enable the TASE to deliver institutional-grade digital asset solutions for regulated entities.

Orly Grinfeld, the clearing executive at TASE, lauded the alliance as a “giant stride in the worldwide digital assets arena.” She underscored TASE’s unwavering resolve to transform the industry and domestic capital markets. “This joint venture exemplifies our steadfast commitment to providing safe, regulated, and pioneering solutions in the digital asset domain,” Grinfeld stated.

Moreover, Fireblocks co-founder and CEO Michael Shaulov echoed Grinfeld’s sentiments. He highlighted the success of Project Eden, an initiative dedicated to applying blockchain infrastructure in issuing and settling digital government bonds. Fireblocks and crypto firm BlockFold were vital participants in the project’s proof-of-concept phase, which was completed in early June 2023.

“Project Eden, in collaboration with TASE, has undoubtedly been one of our most thrilling and innovative ventures in the digital asset realm so far,” stated Shaulov. He elaborated, “The digital asset solutions and services that TASE is investigating are poised to become cornerstones in the evolution of Israel’s economic landscape.”

A Glimpse into the Future of Israel’s Economy

The TASE announced plans to create a blockchain-based digital asset platform in October 2022. As part of this plan, the Israeli stock exchange explored multiple options. These included converting existing infrastructure to innovative technologies and deploying these technologies into specialized platforms. Additionally, the stock exchange aimed to offer a comprehensive suite of services and products for digital assets.

In March 2023, the TASE proposed expanding crypto trading activities to non-banking members. According to this proposal, non-banking members would act as licensed providers for crypto trading and custodial services. This move further underscores the TASE’s commitment to embracing the future of digital assets.

In conclusion, the partnership between the TASE and Fireblocks marks a significant milestone in the global digital assets landscape. It opens up new opportunities for regulated entities and sets the stage for the future of Israel’s economy.

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