February 5, 2023

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Tel Aviv Stock Exchange (TASE) revealed to establish a blockchain-based venue for the expansion of its operations related to the trading of crypto and the rest of the digital assets, in line with an exclusive strategic strategy to take place between 2023 and 2027.

The exchange discussed its entrance into the world of cryptocurrency as well as the development of a venue of digital assets.

Tel Aviv Stock Exchange Announces Developing a Crypto Venue

It mentioned that it will advocate for innovative technologies’ implementation, taking into account DLT, tokenization of diverse digital asset classes, as well as smart contracts.

The strategy of TASE includes examining the action plans of multiple potentials like transferring the present infrastructure to exclusive technologies, innovative technologies’ deployment into dedicated venues, providing a series of digital assets-related items, and so on.

Apart from that, the strategy – which spans over 5 years – will take into account the development as well as the trade of technological services and solutions to the rest of the market members and exchanges.

This would help spread its market scope and conversion to a model of private-firm via the establishment of a unique openly traded holding firm with the bourse’s complete ownership.

TASE Witnesses Comprehensive Growth

Its sub-branches will play the role of the latest holding firm’s units. The unique structure will comprise a holding firm with diverse sub-branches (both the current and sub-branches as well as those which will be developed to advance the targets of the strategy, as mentioned by TASE.

As a part of the exclusive systematic plan, the management of TASE has established a 5-year multiple yearly progress with an upsurge of more than ten percent in revenue.

The reconstruction of the ownership structure of TASE may additionally take into account the deployment of strategic buyouts as well as investments along with the increase in the value related to its operations, as pointed out by the firm while citing a potential acquisition strategy of small and foreign exchanges.

The strategy, which the company declared was established on the industry trends’ analysis, was brought to the front days following the declaration of the firm for collaboration with the Finance Ministry of Israel to test a venue backed by blockchain for the trading of bonds.

The bonds entitled “Eden,” will be released on the behalf of the Ministry of Finance. The purpose of the project is to minimize the cost along with streamlining the release of national bonds.


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