The Jerusalem Stock Exchange has made an investment in Hyland, the Israeli-owned stock exchange company that will become the world leader in cryptocurrency.
The investment by the exchange, which is also a key provider of trading in the virtual currency bitcoin, will be worth $50 million, the company said on its website.
It said the investment will help the company expand into new markets in areas such as healthcare, finance and retail, and also improve the infrastructure of the company’s trading platform.
“We are excited to welcome Hyland to the Exchange, which has become a key partner for our global trading platform, and we look forward to further collaboration with them in the future,” said Hyland CEO Ephraim Bar-Lev.
“We have already made an in-principle investment in the Hyland exchange, and look forward over the next few years to further exploring our options.”
Hyland is the first major cryptocurrency exchange to invest in a stock exchange, but many of the biggest exchanges around the world have already invested in the technology-based stock exchange.
Hyland is now the third largest in the world.
It is also part of the Israeli tech sector and has become known for its innovative technology.
The company has invested in virtual currencies such as ether and bitcoin in recent years, and has invested heavily in blockchain technology, a new generation of technology that aims to create a new kind of financial ledger that can be secured by a blockchain.
Hyland’s initial investment is expected to bring the exchange to more than $150 million in revenues, the Jerusalem Post reported.