Israel is expanding its regulated cryptocurrency offerings through the Tel Aviv Stock Exchange (TASE) by partnering with Fireblocks to provide secure institutional-grade services, according to an Aug. 1 press release.
This collaboration will enable TASE to offer digital asset solutions to regulated entities and advance Project Eden, a government digital bond initiative via blockchain technology.
Fireblocks’ CEO believes their products and services will be foundational to the future of Israel’s economy.
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The deal follows Fireblocks’ integration with Metamask Institutional, aiming to provide wallet security, portfolio management, and decentralized finance (defi) access for institutional investors and traders.
Fireblocks aims to provide the proper infrastructure support and international expertise to bring these offerings to the market.
Several talks of advancements
Isreal has been dedicated to blockchain development for the past ten months.
TASE revealed plans for a blockchain-based digital asset platform in October 2022, exploring various options from transforming current infrastructure to creating new platforms.
In March, TASE said it plans to allow non-bank institutions (NBMs) to provide crypto trading and custody services.
This will expand market reach and enable customers to deposit funds into designated accounts linked to NBMs for cryptocurrency trading.
The global cryptocurrency industry has experienced notable bankruptcy instances, emphasizing the need for enhanced industry regulations to protect consumers against potential risks.
The United States Securities and Exchange Commission (SEC) has sued Binance and Coinbase.
Meanwhile, MiCA has been introduced in Europe, underscoring the need for precise regulation.
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