- But first, the Board of Directors will discuss the idea.
- Previously, they introduced a number of services with digital assets
Tel Aviv Stock Exchange (TASE) plans offer non-banking financial institutions trading operations with cryptocurrency. This is their latest step in a 5-year plan to expand blockchain services and crypto.
The category of non-banking financial institutions includes companies that provide various services to individuals – investments, consulting, brokerage services or cashing checks. But such firms cannot accept deposits from private clients.
TASE will allow non-bank participants to buy and sell cryptocurrencies for their clients. This will be done through licensed providers and custodians.
TASE said in a statement that such an offer is an attempt to meet the growing demand for cryptocurrency. At the same time, the exchange will reduce the risks “inherent” in the crypto business. After all, it will deposit funds of non-bank organizations on a special account. That is, clients will be sure that an investment company, fund or other non-banking organization is really buying crypto assets, and that these funds are held by trusted custodians.
The exchange will make the final decision after consultations at a meeting of the board of directors.
In October, TASE began trading cryptocurrencies and tokenized securities. And before that, they actively tested CBDC for international transfers in cooperation with the Bank for International Settlements (BIS).