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
The specialist platform provider has posted an underlying net profit after tax of $17 million for the half year to 31 December 2018. ...
Three founding members of Macquarie’s Asian Listed Equities division have established Stonehorn Global Partners and launched the Hong Kong...
IOOF has generated strong results for the first half despite the shake up from the royal commission and a drop in earnings, with its underly...
