The Tel Aviv Stock Exchange (TASE), Israel’s only stock exchange, has announced the creation of a blockchain platform to allow investors in cryptocurrency. This is part of its 2023-2027 development strategy.

According to a press release, TASE will increase the use of innovative technologies such as blockchain, tokenization and implementation of smart contracts. It will look at several options to implement its plan as it ramps up trading.

These options include the transfer of existing infrastructure to new technology solutions, their implementation on specialized platforms and the creation and sale of services and products related to digital assets. The previous strategic plan was successful, so it is certain that blockchain and cryptocurrency will be on the site.

However, no clear dates have been set. The new strategy, according to the exchange, will result in a 10-12% rise in revenue for TASE over five years.

As part of its transformation, TASE plans to continue organic growth, strengthen its international profile and bring in foreign investors. This includes expanding the range of international products cleared and traded on TASE.

The liquidity strategy and derivatives market will be strengthened, with a relaunch for futures. The local market will align itself with international standards and existing customers will have their distribution channels upgraded. Reforms in OTC include the development of innovative systems to clear and report OTC transactions.

Israel is a crypto-friendly country. The country’s central bank, for example, has been researching the possibility of launching digital shekels for many years. It even launched a pilot launch on Ethereum.

The government recently issued tokenized bonds in a pilot program. Additionally, banks in Israel, such as Bank Leumi, allow crypto trading and cardholders can buy cryptocurrencies through bank card companies Max or Isracard.