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Israel's Stock Exchange Unveils Plan to Create Digital Asset Platform and Venture Into Crypto

The Tel-Aviv Stock Exchange, the only public stock exchange in Israel, has announced that it is entering the crypto space and creating a platform for digital assets. “The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets,” said the CEO of the Tel-Aviv Stock Exchange.

Tel-Aviv Stock Exchange Entering Crypto Space

The Tel-Aviv Stock Exchange (TASE: TASE), the only public stock exchange in Israel, announced Monday its new strategic plan for the years 2023-2027. The plan was approved by the stock exchange’s board of directors.

One of the four strategic goals listed was “Creating a platform for digital assets using blockchain (DLT) and venturing into crypto.”

The announcement details, “TASE will promote the implementation of innovative technologies, including DLT, tokenizing of various classes of digital assets and smart contracts,” elaborating:

TASE intends to examine multiple potential action plans, including conversion of existing infrastructure to innovative technologies, deployment of innovative technologies into specialized platforms, offering a basket of services and products for digital assets and more.

Ittai Ben-Zeev, CEO of TASE, commented: “The plan anticipates the needs of the market and takes the development and management of innovative services and products to the next level.” He continued. “We will not only partake in the change but aim to spearhead it; we will leverage our home court advantage in Israel to adopt and develop Fintech and position TASE as a hub of services and products.”

The TASE CEO emphasized:

The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets.

Ben-Zeev concluded: “TASE will also build up the local capital market’s activity to match Israel’s economic strength and global activity, utilizing this unique opportunity for growth and expansion of its activity.”

What do you think about the Tel-Aviv Stock Exchange entering the crypto space? Let us know in the comments section below.

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