The Tel Aviv Stock Exchange (TASE) has completed its proof-of-concept for tokenizing fiat currencies and bonds.
TASE Proof of Concept has issued the first ERC-1155 security token representing a digital government bond. A new phase in the Tel Aviv Stock Exchange’s integration of blockchain technology and traditional assets has been completed with the issuance of the first fake digital government bond as an ERC-1155 security token.
Tel Aviv Stock Exchange Completes Work To Tokenize Fiat Currencies and Bonds
This Proof of Concept work by the Tel Aviv Stock Exchange also includes tokenization of Israel’s local currency. The Israeli Shekel, which will serve as a digital payment token to power transactions, has also been tokenized. By using smart contracts for bond management, it was aimed to verify transactions and ensure consistency.
The live transition to Tokenize event was hosted by many banks including many local and international banks such as Barclays, BNP Paribas, Deutsche Bank, First International Bank, Goldman Sachs, JPMorgan, Merrill Lynch, Bank HaPoalim, Bank Discount, Bank Leumi.
TASE CEO Ittai Ben Zeev stated that they believe that Israel can play a leadership role in the digital transformation of capital markets and that capital market information will completely change in a few years.
