Israel Stock Exchange to launch Blockchain platform – Somag News

The Tel-Aviv Stock Exchange (TASE), located in Israel, will have the first Blockchain-based platform for financial services.

According to recent statements by the Tel Aviv Stock Exchange (TASE), located in Israel, from November it will have its first central platform for securities lending, based on Blockchain. Mainly, it hopes to offer a wide range of new and innovative financial products to its investors.

Additionally, in a July 28 announcement, it was indicated that the platform will play an essential role in the country’s capital markets. Importantly, they currently lack a central securities lending system.

“Starting on November 2, 2020 and for the first time, the Tel Aviv Stock Exchange will launch a central system for the loan of securities based on Blockchain technology.” You can read the statement.

In this regard, Orly Greenfeld, Executive Vice President and Director of the Compensation Department of the Stock Exchange, said: “The Tel Aviv Stock Exchange (TASE) is proud to launch the first database system of loans of this type. As a safe and innovative platform ”.

In addition, it added the following:

“Blockchain technology will enable the trading of securities loans … While securing information and supporting the increase in the number of transactions.”

Basically, the Israel Stock Exchange seeks to be the world leader in the field of financial