The Hong Kong Stock Exchange (HKEX) has teamed up with distributed ledger startup Digital Asset to develop a blockchain platform for post-trade processing.
The two firms are exploring the development of a blockchain-powered platform for HKEX's Northbound Stock Connect program, a spokesperson for HKEX told CoinDesk.
The news comes after HKEX revealed in March that it was looking to follow the Australian Securities Exchange (ASX) in putting settlement transactions on a blockchain-based platform. Notably, Digital Asset is also developing that platform as part of a plan to replace the ASX's ageing CHESS clearing house system by 2021.