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Tel Aviv bourse developing blockchain lending platform

The Tel Aviv Stock Exchange Ltd. is developing a securities lending platform based on blockchain technology, the company said May 16.

The project involves Intel Corp., Accenture PLC and The Floor, with Accenture providing project management, systems integration, blockchain and cybersecurity consulting services and Intel powering the platform.

The exchange said the project is meant to create one central platform that will enable direct lending among all major financial instruments, noting that no such central securities lending platform exists in the Israeli market. Securities lending happens in capital markets using interbank mechanisms within and sometimes outside banking group limits, it added.

The project will have two phases — proof of concept, followed by the full deployment of the platform.