With the help of our firm’s attorneys Daniel Markovici, James Raanan, Sahar Peled, and Zachi Zach, the publicly traded Israeli company Tectona entered into a strategic agreement with PalWallet UK to establish a joint venture aimed at launching an advanced digital wallet in Israel.
Through this transaction, PalWallet’s cutting-edge technology combined with Tectona’s regulatory, marketing, and operational expertise to make digital asset trading and management solutions accessible to the Israeli market, all while ensuring compliance with local regulatory requirements.
The joint venture will be operated through an Israeli entity, of which 80% of the shares will be held by Tectona and 20% will be owned by PalWallet. The digital wallet to be developed within the framework of this collaboration will enable both private and corporate users to trade cryptocurrencies, manage accounts, and enjoy advanced payment solutions. In the future, the services are expected to expand to include the issuance of digital credit cards and facilitate use in a wide array of businesses both in Israel and internationally.
This strategic collaboration marks a significant step in advancing Tectona’s vision to become a leading player in Israel’s digital assets market, while providing a robust response to both domestic and international regulatory demands. The partnership will provide Israeli users with secure and convenient access to the world of crypto, with a strong emphasis on user-friendliness and full transparency.
This transaction constitutes a meaningful milestone in strengthening Israel’s fintech and crypto ecosystem by offering innovative and secure solutions for managing and converting digital assets.
We are proud to take part in groundbreaking developments that herald a bold and exciting future in the digital economy!
Read the full article (Hebrew) >>
Bizportal
Crypto Jungle
