The Australian Securities Exchange is set to be the first mainstream exchange in the world to adopt a blockchain-based system as it will replace its existing post-trade settlement system with one built by blockchain startup Digital Asset
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ASX Says Yes: Stock Market to Settle Trades with DLT
The platform developed by Digital Asset uses the technology in order to allow the mutualization of financial market data and processes across multiple market participants. It does this while maintaining confidentiality and scalability – both critical for market infrastructures. ASX also announced that the firm has taken up its pro-rata right to participate in Digital Asset's recently announced Series B financing. With this, the total amount raised by Digital Asset to date is over $115 million.
