Israel Plans to Test Tokenized Bonds
The Israeli Ministry of Finance and the Tel Aviv Stock Exchange have just launched a pilot bond tokenization project called Eden.
According to the announcement, other participants in the testing will be custody solutions provider Fireblocks, software developer VMWare and unnamed banks.
Tests will start in the coming days and will be completed by the beginning of next year.
The pilot project will focus on cost reduction, streamlining procedures for issuing and clearing government bonds, increasing process transparency and reducing risks.
Banks taking part in the project will receive a tokenized series of financial instruments to their wallets through the project platform. They will transfer funds in digital currencies to the government of Israel.
