ASX sells Digital Asset Holdings shares for a book gain of $42 million
According to Wu Shu, the Australian Securities Exchange (ASX) has completed the sale of a stake in Digital Asset Holdings. The transaction was valued at $57 million, from which the ASX received a book gain of approximately $42 million.
ASX acquired an 8.5% stake in Digital Asset Holdings for $47 million in 2016, with the original plan to use blockchain technology to replace the CHESS clearing system. The project was declared a failure in 2022, resulting in a loss of approximately AUD 250 million for ASX.
Currently, Tata Consulting Services is responsible for the development of a new clearing system. At the same time, the Australian Securities and Investments Commission (ASIC) filed a lawsuit against the ASX over issues related to information disclosure.