20 September 2017
Visit http://response.ncr.com

ASX lifts stake in Digital Asset Holdings

22 June 2016  |  6729 views  |  0 FXall

The Australian Securities Exchange is to lift its stake in blockchain startup Digital Asset Holdings, reinforcing its determination to press ahead with plans to develop a new post-trade platform based on distributed ledger technology.

Earlier this year, the Australian stock market operator invested $14.9 million in the US-based blockchain startup to acquire a 5% shareholding, fund an initial phase of development, and purchase warrants that gave it the right to take up an additional five percent stake and appoint a director.

With a beta test phase of the technology set to run in 2017, the ASX has exercised a portion of its options, paying $7.16 million to increase its holdings to 8.5%.

In a presentation to investors earlier this month, the Australian exchange says it expects to spend $50 million on its technology transformation programme during the course of 2016.

Development of the distributed ledger-based platform will take place in parallel with routine updates to the existing Chess system, with a final decision on the future market design to be made in late 2017.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Digital Asset Holdings acquires Swiss startup Elevence

Digital Asset Holdings acquires Swiss startup Elevence

20 April 2016  |  12278 views  |  0 comments | 14 tweets | 5 linkedin
DTCC trials distributed ledger tech for repo market

DTCC trials distributed ledger tech for repo market

29 March 2016  |  5643 views  |  0 comments | 10 tweets | 7 linkedin
Two of Wall Street's most powerful women are uniting behind blockchain

Two of Wall Street's most powerful women are uniting behind blockchain

02 March 2016  |  7063 views  |  0 comments | 9 tweets | 18 linkedin
ASX wavers over future of Chess platform as it begins work on blockchain settlement

ASX wavers over future of Chess platform as it begins work on blockchain settlement

12 February 2016  |  7587 views  |  0 comments | 9 tweets | 4 linkedin
Goldman and IBM join Digital Asset Holdings funding round

Goldman and IBM join Digital Asset Holdings funding round

02 February 2016  |  10590 views  |  1 comments | 13 tweets | 3 linkedin
Financial industry giants join $50m Digital Asset Holdings funding round

Financial industry giants join $50m Digital Asset Holdings funding round

21 January 2016  |  14833 views  |  0 comments | 13 tweets | 20 linkedin
Digital Asset Holdings opens London office; hires more bankers

Digital Asset Holdings opens London office; hires more bankers

15 January 2016  |  6472 views  |  0 comments | 9 tweets | 2 linkedin
Blockchain startup hires former head of Swift Americas

Blockchain startup hires former head of Swift Americas

14 December 2015  |  4694 views  |  0 comments | 10 tweets | 4 linkedin
Pivit issues capital investment on blockchain with Digital Asset Holdings

Pivit issues capital investment on blockchain with Digital Asset Holdings

09 September 2015  |  7306 views  |  0 comments | 13 tweets | 3 linkedin
Digital Asset begins distributed ledger roll-up with Hyperledger acqusition

Digital Asset begins distributed ledger roll-up with Hyperledger acqusition

26 June 2015  |  8300 views  |  0 comments | 5 tweets | 5 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.capgemini.comvisit www.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
11157 views comments | 24 tweets | 40 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10469 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9241 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7735 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7514 views comments | 14 tweets | 15 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job