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Australia's ASX lifts stake in US blockchain developer

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Australian markets operator ASX Ltd said on Wednesday it was exercising an option to lift its stake in US blockchain developer Digital Asset Holdings, stepping up its interest a technology that backers say can ease information tracking and reduce transaction settlement times.

[SYDNEY] Australian markets operator ASX Ltd said on Wednesday it was exercising an option to lift its stake in US blockchain developer Digital Asset Holdings, stepping up its interest a technology that backers say can ease information tracking and reduce transaction settlement times.

ASX said it would pay US$7.16 million to increase its holding in Digital Assets to roughly 8.5 per cent from the 5 per cent it acquired in January.

Blockchain, or distributed ledger, technology maintains a continuously growing list of transaction data which cannot be tampered with or revised.

Other exchange operators, including Deutsche Boerse and London Stock Exchange have joined hands with financial services and tech heavyweights to build platforms and applications using the blockchain technology.

REUTERS

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