Israel is gearing up to introduce more regulated cryptocurrency opportunities through its only public stock exchange, the Tel Aviv Stock Exchange (TASE), which has partnered with digital asset platform Fireblocks to offer new crypto services. The collaboration aims to provide institutional-grade digital assets solutions to regulated entities, leveraging TASE's market experience and Fireblocks' technology for secure digital asset movement, storage, and issuance.
The partnership extends from the success of Project Eden, a joint effort by Fireblocks, TASE, and cryptocurrency firm BlockFold. Project Eden focuses on implementing blockchain infrastructure for issuing and settling digital government bonds, with the proof-of-concept phase expected to conclude in early June 2023. This collaboration is considered groundbreaking for digital asset use cases and holds potential significance for the Israeli economy's future.
Orly Grinfeld, TASE's head of clearing, expressed enthusiasm about the partnership, viewing it as a major advancement for the global digital asset sector. She emphasized the exchange's commitment to delivering regulated, safe, and innovative digital as set solutions. Fireblocks' co-founder and CEO, Michael Shaulov, echoed this sentiment, highlighting the vital role that TASE's exploration of digital asset products and services could play in Israel's economic landscape.
TASE initially unveiled plans for a blockchain-based digital asset platform in October 2022. The exchange's strategy includes exploring various approaches, such as transitioning existing infrastructure to blockchain technology and creating specialized platforms. It al so envisions a range of services and products for digital assets. Notably, TASE's proposal to extend cryptocurrency trading activities to non-bank members suggests the exchange's intent to expand access and participation in the evolving digital asset ecosystem
