Approved by the ASX: The exchange will use distributed ledger technology to settle trades

nBankruptcy Commentary: ASX Announces CHESS, one of the company’s core services, the Post-Transaction Settlement Platform, will move into the blockchain system for the development of digital asset-holding blockchain startups. Become the world’s first large-scale exchange of similar technology implementation.n
nTranslation: Annie_Xun
Australian Securities Exchange (ASX) announced that it will replace the CHESS post-transaction system with technology developed by blockbuster startup Digital Asset Holdingsn
Two years of proof-of-concept builds, collaboration with potential users, testing of technology implementation, this much-anticipated decision represents a significant milestone as the ASX will be the first in the world to shift one of its core services to the blockchain system In the mainstream exchange.n
Dominic Stevens, managing director and chief executive officer of ASX, said:n
n”We believe replacing CHESS with distributed ledger technology will allow our customers to develop new services and reduce costs so that Australia is at the forefront of innovation in the financial markets, and although we have a lot to do, this statement is important for this journey Milestone “.n
nA platform for the development of digital asset holdings Leverage this technology to interact with financial market data and processes across multiple market participants. While protecting the privacy and capacity expansion that are crucial to the market infrastructure.n
The ASX also announced that the company has used the same round of Series B financing with its holdings in digital asset holdings. Therefore, the total amount of digital asset holding financing has more than 115 million US dollars.n

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