The Tel-Aviv Stock Exchange (TASE), which is the only public stock exchange in Israel, made an announcement on Monday about its entry into the crypto world.
TASE was announcing its strategic plan for the years 2023-2027 which was approved by the stock exchange’s board of directors. There were 4 strategic goals listed in the plan and one of them counted in the creation of a platform for digital assets using blockchain (DLT) and venturing into crypto.
Further, the announcement elaborated on the exchange’s intention to promote the implementation of innovative technologies, including DLT, tokenization of various classes of digital assets, and smart contracts. It also stated that the TASE aims to examine multiple potential action plans including conversion of existing infrastructure to innovative technologies, deployment of innovative technologies into specialized platforms, and offering plenty of services and products for digital assets and more.
Ittai Ben-Zeev, the CEO of TASE in a comment stated that the exchange’s plan is equipped to estimate the needs of the market and is also expected to take the development and management of innovative services and products to a higher level.
Further, he said that the exchange not only wishes to be involved in the change for its namesake but aims to lead it. They intend to leverage their home court advantage in the country to facilitate the adoption and development of fintech and simultaneously place the exchange as a potential hub of services and products. TASE in the upcoming years is going to serve as a critical spot for opportunities in the technological revolution of the global capital markets.
Adding on, the CEO discussed the exchange’s plan will also be inclusive of the activities in the local capital market and strengthen it to match the country’s economic strength and global activity via the utilization of unique opportunities for growth and development of the activity.