The Australian Stock Exchange is boosting its stake in New York blockchain startup Digital Asset Holdings.

In a letter to the Australian Securities and Investment Commission, the exchange operator said that it is increasing its stake from 5% to 8.5% after investing roughly $7.1m.

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

13:18

Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO

05:10

Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny

04:07

The first video of the year 2024

40:07

The last regression video of the year 3.67.0

ASX originally invested roughly $15m as part of the startup’s $60m funding round earlier this year. The firm will also place one of its representatives on the Digital Asset board of directors as part of that process.

STORY CONTINUES BELOW

Recommended for you:

The exchange company is one of a number of services like it around the world that has invested time and money in exploring the technology for potential applications.

Specifically, ASX is weighing whether to replace an older settlement system with one based on a distributed ledger designed in partnership with Digital Asset.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.