The Sydney Stock Exchange (SSX) will initially look to facilitate the trade of private stocks, but will eventually open the system up to publicly traded stocks as well.
The project has been in development for years, but recent moves by the government encouraged SSX to push ahead on the initiative. Statements from the exchange’s leadership indicate that it intends to both use the solution internally as well as market it to other exchanges.
The Australian Securities Exchange (ASX) has been working on its own solution in partnership with New York-based startup Digital Asset Holdings.
The move comes during a formative time for the technology in Australia. Earlier in 2016, the government gave its effective stamp of approval through public statements on such projects, stating the intention to develop new legal frameworks for blockchains.
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