Edinburgh start-up partners Israeli stock exchange to develop blockchain tech

Chief executive Duncan Johnston-Watt hailed an exciting tie-up. Picture: Contributed

The deal with the Tel Aviv Stock Exchange (TASE) represents the first major enterprise client for the blockchain-focused start-up, which was founded in 2018.

The tie-up will ensure the readiness of a new blockchain-based securities lending platform for the Israeli exchange.

BTP, which also has an office in New York, provides technology to simplify the deployment and ongoing management of blockchain networks.

The start-up is aiding trials with market participants ahead of the Israeli platform roll out later this year, testing the governance, operations, security, support and user acceptance of the new system. It will continue to support the blockchain tool after it is implemented.

BTP chief executive Duncan Johnston-Watt said: “What is really exciting for us is the partnership that we have forged with the TASE team as we’ve worked together on acceptance testing over the past few months.”

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Uri Shavit, TASE chief information officer, added: “Our goal was to harness the power of cutting-edge blockchain technology to transform the securities lending market in Israel by creating a distributed service available to all our market participants, in order to increase the volume of the market and make it available for more players in the market.

“With today’s announcement, there is now a clear path to achieving this goal.”