Category Archives: Israeli Blockchain Association

Auto Added by WPeMatico

Israeli Investment House Silver Castle Defies Market to Attract Institutional Investors

An Israel-based investment house has announced plans to cement its hold as a DLT driver in the country by launching the first dedicated digital coin investment platform for institutional and accredited investors.

Silver Castle Ltd has ignored the current bear market with this decision, with its CEO Eli Mizroch confirming that the company had spent the best part of a year creating a strong foundation for managing institutional grade-level investments.

It was only last week that KMPG called for “more participation from the broader financial services ecosystem to help drive trust and scale for the tokenized economy and help the crypto market grow and mature”. Silver Castle’s move is clearly aimed at capturing this market.

Mizroch described the launching of two funds as “awesome for everybody”; it has a target of USD 50 million by the end of this year. The first fund is described as being driven by both long and short momentum, based on an algorithmic trading device which will pick the five biggest coins by market cap. Mizroch claims that the system has been utilized in house for the past year, yielding “high double-digit” returns.

The second of the two funds offers a basket of the top 10 coins, again the result of a weighted algorithm, with further plans to launch a token-based fund for ICO investment purposes, also scheduled for the end of the year.

The company includes Zvi Ziv, a former chief executive officer of Bank Hapoalim Ltd, Israel’s largest bank by assets; and Gabriella Ravid, founder and former CEO of Psagot Ofek Investment House, the country’s largest investment fund. Ziv is insistent on the company following the blockchain trial, arguing that:

“There is a lot of potential in using blockchain and everything is going to try and move there… I believe herein lies the biggest potential in the financial world.”

Silver Castle’s CEO agrees, suggesting that blockchain is the future of investment infrastructure, with Israeli Blockchain Association’s (IBA) founding partner, Gadi Isaev, hailing the launch as a landmark event for the whole Israeli cryptocurrency market. Roma Gold, another founding partner of the IBA, commented that ICOs are becoming less popular, but institutional investment in blockchain is very much on the rise:

The Israeli blockchain ecosystem is presently experiencing both a boost and a transformation… Today, fewer startup founders are coming out of morally questionable markets, such as binary options, and gambling. Instead, more institutional players are starting to enter the market. In essence, the market is going through self-purification.”

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Israeli Investment House Silver Castle Defies Market to Attract Institutional Investors appeared first on BitcoinNews.com.

Israeli Startups Head over Heels with Blockchain, Acknowledge Learning Process

The Israeli Blockchain Association (IBA) has announced in a press release that there are now 200 DLT-related startups in the country, but that there is still more to be done.

Israel has been slow to embrace cryptocurrency as part of an expanding fintech industry in the country, particularly given the country’s geographical position on the fringes of Europe. Recently, however, the rate of startup investment and blockchain research has begun to gain some pace, as the country looks to the US and Europe and their enthusiastic embracing of new technologies and AI.

The newly-released IBA Israeli Blockchain Startup Map figures highlight the pace at which Israel has taken to developing the technology to promote business. The Association describes itself as “an organization whose primary objective is to educate, develop and empower Israel’s distributed ledger technology (DLT) community, encourage best practices and connect it with global leaders in the blockchain space”.

The report goes on to claim that 57 startups are specifically using blockchain and 37 are focused on the protocols and core infrastructure sectors, with a handful of other startups operating in the security sector of the economy.

However, 20 blockchain projects were unsuccessful and ceased operating since the beginning of 2018. The failures have been put down to lack of research and technical knowledge as to how DLT operates, before launching projects. Roma Gold, the Founding Partner of the IBA, commented that ICOs are becoming less popular, but institutional investment in blockchain is very much on the rise:

“The Israeli blockchain ecosystem is presently experiencing both a boost and a transformation… Today, fewer startup founders are coming out of morally questionable markets, such as binary options, and gambling. Instead, more institutional players are starting to enter the market. In essence, the market is going through self-purification.”

Israel is not afraid to seek help in this new field and crypto-friendly Switzerland is certainly a good friend to have given its experience in the sector. Recently, Switzerland’s Minister of Finance Ueli Maurer and State Secretary for International Financial Matters Joerg Gasser discussed terms for entering the Israeli market with high-ranking state officials during a Swiss delegation visit to the Middle East.

Part of the terms of this agreement concluded that both sides would cooperate with each other in areas of financial technology regulation and cryptocurrencies, as well as both parties sharing their history of success and failures in regulating the blockchain industry.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Israeli Startups Head over Heels with Blockchain, Acknowledge Learning Process appeared first on BitcoinNews.com.