Israel’s Stock Exchange Launches Blockchain Platform for Securities Lending

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Jul 28, 2020 at 09:35 UTC

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Israel’s Stock Exchange Launches Blockchain Platform for Securities Lending

The Tel Aviv Stock Exchange (TASE) has launched a new blockchain platform that it claims will become the “one-stop-shop” for lending securities in the country.

TASE said Monday the Central Blockchain Securities Lending Platform will provide a single national market where Israeli institutions can lend securities directly to one anotherBased in the northern city of Tel Aviv, TASE is the only public stock exchange in Israel.Blockchain facilitates peer-to-peer trading and escrow all with near-guaranteed immutability, the exchange said in a statement.Not only does the new platform give traders greater flexibility and versatility, but it can also cut costs and enhance security, it added. This replaces a complicated and disjointed lending system and allows the securities lending market to reach its full potential, TASE concluded. The blockchain securities lending system had been in the testing phase since March 2020.

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