Copy link
Increase text size
Decrease text size
Link copied

Israel's stock exchange to launch blockchain-based securities trading platform by November 2020

The Tel Aviv Stock Exchange (TASE) will soon launch a blockchain-based platform touted as a one-stop-shop for all securities lending activities.

Image by avner nagar from Pixabay

Wed, 29 Jul 2020, 10:31 am UTC

Israel has been known as a hotspot for blockchain innovation. Recently, the country lived up to this reputation by announcing a cutting-edge lending platform that is based on blockchain.

The Tel Aviv Stock Exchange (TASE) announced the launch of a Central Blockchain Securities Lending Platform, the first of its kind in Israel, according to IsraelDefense. The groundbreaking financial platform will be powered was announced on Tuesday, July 28, 2020, but the actual launch is expected to happen by November 2, 2020.

At the moment, Israel has no central securities lending platform in place. Securities lending is done using inter-bank mechanisms, resulting in the lending market in the country not yet being fully exploited.

But the new blockchain-based lending platform is going to change that and transform Israel’s securities lending market. Once the new system is in place, it will enable direct lending for all major financial instruments.

In fact, it is seen as becoming a one-stop-shop for all securities lending transactions. With the system up and running, it could handle larger volumes of securities lending transactions and process them within shorter timeframes.

“The Tel Aviv Stock Exchange is proud to present this first-of-a-kind lending pool, a safe, cutting-edge and state of the art platform,” TASE Executive Vice President and Head of Clearing Orly Grinfeld said. “The Blockchain technology will present a new level of safety for securities lending and will support growth for transactions based on this new platform.”

As a global financial innovation leader, Grinfeld said that TASE “strategically pursues the technological advancement of the capital market.” This is evident in the ground-breaking blockchain-based lending platform that it plans to launch later this year.

TASE released a press release last March and revealed that it performed initial testing of the project. During the testing, TASE members were given temporary access to the testing environment so they could try out some of its features and tweak their respective systems for compatibility.

There are many advantages to using blockchain or distributed ledger technology (DLT) for the new securities trading platform. For example, it will be ultra-secure as records will be transparent and tamper-proof. The system will also support the use of smart contracts, allow direct peer-to-peer transactions, and reduce transaction costs.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.07.31 00:15:05
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358.............................................................................
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $10,978.20 (+0.09%)
  • Ethereum (ETH) $381.78 (-0.02%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $230.99 (-1.62%)
  • Binance Coin (BNB) $27.00 (-0.68%)
  • Bitcoin (BTC) $10,978.20 (+0.09%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft