TASE aims to offer a series of digital asset products and services to regulated entities.
The Tel Aviv Stock Exchange (TASE), in collaboration with digital asset platform Fireblocks, is preparing to introduce new regulated cryptocurrency services to Israel.
TASE's recent agreement with Fireblocks, as announced on August 1st, will pave the way for a series of digital asset products and services aimed at providing institutional-grade solutions to regulated entities.
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By combining the long-standing presence of TASE in the Israeli market with Fireblocks' cutting-edge technology for digital assets management, the partnership aims to offer state-of-the-art solutions for moving, storing, and issuing digital assets.
The alliance of TASE and Fireblocks was coined a "monumental leap forward" by Orly Grinfeld, TASE clearing executive. She asserts that this collaboration mirrors the unwavering commitment of both entities to transform the industry and local capital market.
We are unwavering in our pursuit of revolutionizing the industry and the local capital market, and this collaboration epitomizes our dedication to delivering secure, regulated, and innovative digital asset solutions.
Fireblocks co-founder and CEO Michael Shaulov is no stranger to working with the TASE. The two organizations previously collaborated on Project Eden, a groundbreaking initiative aimed at issuing digital government bonds using blockchain technology.
Reflecting on the previous success, Shaulov expressed his excitement over the new partnership, stating that the digital asset products and services explored by TASE will surely form a cornerstone in Israel's economic future.
The shared history between Fireblocks and the TASE dates back to Project Eden's proof-of-concept phase, completed in early June 2023, with the participation of the crypto firm BlockFold. Shaulov proudly remarked:
With Project Eden, our work with TASE has been one of the most exciting and ground-breaking digital asset use cases to date.
The alliance between the Tel Aviv Stock Exchange and Fireblocks signifies an ambitious move to enrich Israel's cryptocurrency landscape. The combination of TASE's market presence with Fireblocks' technological prowess is poised to create a productive ground for digital asset innovations, potentially reshaping the future of Israel's economy.
It is worth noting that in February, TASE published a draft proposal aiming to expand "the authorized activities of Non-Banking Members (NBMs) to include trading" in crypto.
