Tel Aviv Stock Exchange Partners with Fireblocks to Introduce Crypto Services

Israel is gearing up to expand its regulated cryptocurrency offerings as the Tel Aviv Stock Exchange (TASE), the country’s only public stock exchange, prepares to introduce new crypto services.

TASE recently signed a partnership agreement with Fireblocks, a prominent digital asset platform, to jointly provide a range of new digital asset products and services. The collaboration aims to leverage TASE’s extensive experience and market presence in Israel, combining it with Fireblocks’ technology, which specializes in secure movement, storage, and issuance of digital assets.

Orly Grinfeld, TASE’s clearing executive, hailed the partnership as a significant advancement in the global digital assets landscape, emphasizing the exchange’s commitment to revolutionizing the industry and delivering secure, regulated, and innovative digital asset solutions.

Fireblocks’ co-founder and CEO, Michael Shaulov, highlighted the success of their previous collaboration with TASE, known as Project Eden. This initiative focused on the application of blockchain infrastructure for the issuance and settlement of digital government bonds. The proof-of-concept phase, completed in early June 2023, paved the way for the current partnership and the exploration of new digital asset products and services.

Shaulov expressed optimism about the role these offerings would play in shaping Israel’s economy in the future.

TASE officially announced plans to establish a blockchain-based digital asset platform in October 2022, with a vision to explore various options, including upgrading existing infrastructure and deploying innovative technologies on specialized platforms. The exchange sought to offer a diverse range of services and products for digital assets.

In March 2023, TASE proposed expanding crypto trading activities to non-banking members, envisioning licensed non-banking entities to act as providers for crypto trading and custodial services.

As TASE advances its efforts in the crypto space, the collaboration with Fireblocks is expected to enhance Israel’s regulated cryptocurrency landscape, providing institutional-grade digital asset solutions for regulated entities and fostering innovation in the local capital market.

As of now, TASE has not yet responded to requests for further comment on these developments.

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