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The departure of Digital Asset Holdings CEO, Blythe Masters, is not slowing down the plans of the Australian Securities Exchange (ASX) to implement a settlement system based on a general accounting system, according to the company.
Peter Hiom, vice president of ASX, told CoinDesk through a spokesperson that the departure of Masters would have had no impact on his plans to implement a system of clearing and settlement based on a distributed ledger technology in place of the platform of CHESS incumbent.
The district attorney announced Tuesday that Masters, who has been running the company since he started working there in 2015, would have resigned for personal reasons. It will be temporarily replaced by the DA board member and now by President AG Gangadhar as the company seeks a new permanent CEO.
"ASX remains absolutely loyal to DLT and our partnership with Digital Asset (DA) – our CHESS replacement program is in line with the pace," said Hiom, adding:
"We are working closely with the DA at all levels on the development, implementation and preparation of customers for the replacement system, and we are looking forward to continuing this work with AG Gangadhar and the team. FROM".
Master's work with DA helped push forward DLT's efforts, he added, saying "she's a good friend of ASX".
While ASX had initially planned to implement its new system by 2020, Hiom said Wednesday that the exchange "remains on track to bring DLT to the market at the start of 2021."
As such, ASX continues to believe that DLT can "drive efficiency and stimulate innovation," said Hiom. "We thank [Masters] and I wish you the best, "he added.
Exchange of Australian stock securities through Shutterstock
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