Share this article
Hong Kong Stock Exchange Looks to ASX for Blockchain Equity Settlement
The Hong Kong Stock Exchange is looking to follow its Australian counterpart in developing a blockchain settlement system.
By Wolfie Zhao
Updated Sep 13, 2021, 7:42 a.m. Published Mar 20, 2018, 11:30 a.m.
The Hong Kong Stock Exchange (HKEX) is looking to follow its Australian counterpart in developing a blockchain settlement system.
According to the Financial Times, Charles Li, head of the HKEX, said on Tuesday that the company is currently in dialogue with the Australian Securities Exchange (ASX) to learn from its experience in settling transactions over a blockchain system.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The plan, according to Li, would ultimately be to utilize a blockchain platform to settle stock borrowing and lending, as well as over-the-counter trades, at a reduced cost compared with traditional methods.
While the stock exchange has previously announced an initiative in developing a blockchain-based private market to finance smaller enterprises, Li said technology vendors were not able to lend sufficient support and the HKEX is not interested in taking the effort in-house.
That said, Li still hopes to beef up the exchange's blockchain efforts by following the technological progress and vendor relationships seen by the ASX.
"Let’s use this cheap technology to do something that doesn’t affect the central order book," he was quoted as saying.
As reported by CoinDesk, the ASX announced last December that, using technology developed by blockchain startup Digital Asset, it has set to become the first stock exchange to shift one of its main services to a blockchain-based system.
Stock index image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Higit pang Para sa Iyo
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
Ano ang dapat malaman:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
Top Stories
