The Tel Aviv Stock Exchange (TASE) announced a new securities lending platform based on blockchain. The platform was developed in partnership with Accenture, Intel, and Israeli fintech firm The Floor. In a statement, TASE said the security lending platform will be based on the Hyperledger Sawtooth, which uses Intel software Guard Extension to encrypt data transactions. Accenture will work on creating the smart contract for the platform using Intel applications. The central platform, called Blockchain Securities Lending (BSL), will enable direct lending among all key players in Israel's financial sector. The new platform will reduce the time it takes to work on large loads of securities, according to TASE. It will also provide customers and lenders with a one-stop-shop for all security operations. Ittai Ben-Zeev, CEO of TASE, said the new platform will provide better security for all transactions and support growth in the securities market, while also cutting down transaction cost through \u00a0peer-to-peer transaction. The project, which started on\u00a0 March 2017 at the International Blockchain Hackathon, is divided into two phases. The first phase is an initial proof-of-concept (PoC) followed by the platform\u2019s deployment to the public. The Tel Aviv Stock Exchange is now home to over 450 companies. The company, which was created in 1953, provides local and international investors with a platform for trading and clearing in securities. These include stocks, corporate bonds, index-tracking products, derivatives and government bonds. Blockchain technology continues to penetrate deep in various finacial institutions around the world. In the last few months, there has been an upsurge in blockchain-related projects within the financial industry. Last month, the National Bank of Dubai implemented a check insurance system based on blockchain to prevent fraud. The check insurance system prints a unique Quick Response (QR) code on checks and stores the data on the blockchain ledger. Wall Street is also keen to leverage on blockchain technology. Brian Kelly, the founder of the digital asset investment firm BKCM, plans to roll out a blockchain-based exchange-traded fund (ETF). According to reports, this move is in partnership with Gregg King of REX Shares. The ETF will provide financial support to companies.