National Stock Exchange of Australia (NSX) and iSignthis (ISX) have established a joint venture named “ClearPay Pty Ltd”.

Therefore, the entity will create a multi-currency platform based on distributed ledger technology (DLT). In addition, it will integrate into ISXPay(R) and Paydentity(TM) services.

John Karantzis, ISX Managing Director, said:

“It’s very exciting for us that the ClearPay JV will bring genuine competition to the Australian cash equities eco-system. Moreover, iSignthis brings an inherent technology capability to the NSXA, including its extensive payments and Know Your Customer’s Customer “KYCC”.

Under the agreement, ISX has acquired a 12.96 percent stake in Signthis through a private placement at $0.145 per share, totaling $4.2 million.

ClearPay provides real-time settlements

The JV provides the same-day settlement, especially as it ranges currently between two or three days.

In addition, users will have access to the distributed ledger technology network to share the registry operators.

For his part, Thomas Price, NSX acting chief executive officer, said:

“Market commentators are in broad agreement that cash equity exchanges are facing a global technology revolution, which is challenging legacy methods of clearing and settlement.”

“Having patiently monitored the development of the appropriate technology and know-how, we consider that this is the right time for the National Stock Exchange to act,” Price said.

He added that the JV will enable the company to drive the transition in a cost-effective environment.

In a related context, it seems that NSX is not the only stock exchange interested in the crypto industry. Previously, Cryptolydian reported that Amun AG, a leading technology company, has rolled out the 21Shares Short Bitcoin ETP (SBTC) tracker on Swiss Stock Exchange (SIX).

In addition, the first-of-its-kind SBTC suite will help investors track the Bitcoin’s performance.

Therefore, the suite enables investors to make use of the decline in the Bitcoin price.

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