The Tel Aviv Stock Exchange has partnered with technology firm Fireblocks for its range of digital asset solutions to help initiate its crypto services.
Israel has seen considerable progress in the crypto space this year. Its central bank lent support to central bank digital currencies (CBDCs) recently. The country also saw a new crypto bill that could lower taxes for foreigners on digital assets. Continuing the momentum, the Tel Aviv Stock Exchange has decided to start crypto services now.
The Israeli stock exchange will collaborate with Fireblocks, a blockchain technology firm. The exchange will use the Fireblocks platform to start offering crypto products and services soon.
The partnership is being hailed by experts, considering the past experiences of both parties. The Tel Aviv Stock Exchange is well adept to markets in Israel. On the other hand, Fireblocks is an industry captain for blockchain services.
A senior official of the exchange, Orly Grinfeld, said “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. By harnessing the power of Fireblocks’ advanced technology, we are poised to lead the charge into a future where the possibilities for digital assets are boundless.”
The CEO of Fireblocks, Michael Shaulov, also stated his affirmation regarding the project’s potential. They had earlier worked with the Israeli stock exchange on ‘Project Eden.’ The project involved using a blockchain platform to issue a government digital bond.
The new crypto services and the collaboration with Fireblocks were a step ahead of Project Eden, for the stock exchange.