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.

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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.

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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.

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