Bitcoin

Bitcoin Daily: Tel-Aviv Stock Exchange Plans Blockchain Lending Platform; Fireblocks Launches Faster Crypto Deposits System

The Tel Aviv Stock Exchange (TASE) has launched a new central blockchain securities lending platform in Israel, according to a press release — the first in the area.

The platform will help the market via enabling a new direct lending option for every major financial institution, acting as a one-stop market for any securities lending and allowing for access to more securities volumes in less time.

That way, even those operating in shorter-term positions will have access, the release reads.

The project was started in March 2020 and tested lending transactions in the new platform. Now, the use of distributed ledger technology (DLT) will help garner new blockchain advantages in direct peer-to-peer technology and more security through immutability.

Swiss crypto manager FiCAS AG has launched what it says is the first actively managed bitcoin exchange-traded product (ETP), according to CoinDesk.

FiCAS AG chairman Mattia Rattaggi said the firm will be maintaining a Bitcoin Capital Active ETP portfolio of as much as 15 altcoins, which will be decided through the market capitalization, liquidity and the rules of the host exchange, CoinDesk reported.

The managers will trade bitcoin against ETHXRPBCHLTC, BNB, EOS, ADA, XLMXTZ and TRX, exiting to Swiss francs, euros and U.S. dollars, with privacy coins not allowed.

Fireblocks, the digital asset storage and transformation firm, wants to expedite cryptocurrency transactions for big firms and institutions, according to a CoinDesk report.

The firm rolled out its new Deposit Acceleration Program on Tuesday (July 28), which will help offer crypto deposits on exchanges with no confirmations in real time. That will have the effect of diminishing the time it takes to resolve large transactions and could possibly bring new institutional trading volume for exchanges. Many exchanges have the digital assets loaded onto their platforms before trading, which could take as much as 24 hours depending on the network and congestion levels.

Those who want to take advantage of the arbitrage opportunities or which have tight liquidity margins could find it useful, CoinDesk wrote.

Fireblocks secured $16 million in a Series A fund in June of 2019, PYMNTS reported.

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