ASX to become first stock exchange on blockchain

ASX will replace its existing clearing and settlement system with blockchain 
07 December 2017   1310

ASX, the Australian Securities Exchange, announced today its intention to replace CHESS using distributed ledger technology (DLT) developed by American software company Digital Asset (DA).

CHESS (Clearing House Electronic Subregister System) is the system used by ASX to record shareholdings and manage the clearing and settlement of equity transactions in Australia. Now ASX plans to replace CHESS with a next generation post-trade platform using blockchain technology.

"We believe that using DLT to replace CHESS will enable our customers to develop new services and reduce their costs, and it will put Australia at the forefront of innovation in financial markets. Today’s announcement is a major milestone on that journey."


Dominic Stevens

ASX Managing Director and CEO

The DA Platform uses Distributed Ledger Technology 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.

The ASX also announced that it has taken up its pro-rata right to participate in Digital Asset’s recently announced Series B financing. This additional participation brings the total funding raised by Digital Asset to over $115 million.

Wirex to Issue 26 Stablecoins on XLM Blockchain

Wirex chosen Stellar blockchain because company considers it safe, easily scalable and relatively inexpensive to use
25 April 2019   88

British online banking platform Wirex has announced the listing for the XLM token, as well as the release of 26 stablecoins on the Stellar blockchain, pegged to fiat currencies, including USD, EUR, GBP, HKD and SGD.

Prior to this, Wirex card supported eight digital assets and ten fiat currencies.

In addition, Wirex added the ability to instantly convert steablecoins to each other at over-the-counter rates.

As the company expects, new assets will be used for money transfers, issue and redemption of tokens, as well as for payments for services.

The choice of Wirex fell on the Stellar blockchain, as the company considers it safe, easily scalable and relatively inexpensive to use.

Last year Wirex became the third company in a row that received a license to provide services in the UK and Europe.