ASX increases stake in Digital Asset

ASX increases stake in Digital Asset

The ASX will increase its stake in US-based Digital Asset from 5.0 per cent to 8.5 per cent, investing a further $7 million in the company.


The purchase follows a warrant acquired by the ASX at the time of its initial investment, allowing it to increase the stake and appoint a representative to the Digital Asset board of directors.

In addition to the purchase, the ASX announced it had entered a commercial agreement appointing Digital Asset as the preferred partner to develop a new system for clearing and settlement.

The ASX made an initial investment in January 2016, putting $14.9 million into the blockchain company, and began working on the new system as part of an ongoing process to replace the existing CHESS system.

Read more:

VicSuper CIO announces retirement

Listed infrastructure remains 'compelling': Zenith

CBA renews contract with Morningstar

Platform FUM remains steady at $669bn

ASIC takes Macquarie to court over van Eyk fund

 

ASX increases stake in Digital Asset
ID logo
promoted stories

Appointments

investordaily image

Fortnum hires former Centric Wealth CEO

Staff Reporter

Deborah Ralston

SMSF Association names new chair

Katarina Taurian

Curtis Cifuentes

Avenir Capital hires investment director

Staff Reporter

Analysis

Maurizio Canton

Striking a balance between security and innovation

Maurizio Canton

Greg Kuhnert

Backing China in the Year of the Dog

Greg Kuhert

investordaily image

The benefits of good data governance

Steve Singer