ASX to offer blockchain free to lure early adopters

ASX HQ — ASX, Sydney: to encourage the use of blockchain, ASX will give it away for three years to early adopters

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The Australian Securities Exchange (ASX) will spearhead the use of blockchain to settle trades by offering the service free as an initial inducement to banks, instead of using industry-standard connections via Swift and AMQP.

The exchange, which has been working to replace its creaky Clearing House Electronic Subregister System (Chess), would offer the teaser rate on blockchain beginning in the first half of 2021 for three years, Risk.net has learned.

The project is viewed as a litmus test

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