SYDNEY: The Australian Securities Exchange (ASX) announced Thursday it has sold its stake in U.S.-based Digital Asset Holdings, LLC, for approximately $57 million, recognizing a pre-tax gain of $42 million for fiscal year 2025.
The sale marks a $10 million pre-tax gain over ASX’s original acquisition cost. ASX said the gain will be recorded in its asset revaluation reserve, consistent with the accounting treatment applied at the time of purchase.
The transaction was finalized and announced on the same day.
The move comes amid ASX’s broader strategic reshaping following delays and setbacks in its blockchain-based CHESS replacement project, previously developed in collaboration with Digital Asset.