The Australian Securities Exchange (ASX) has announced that its distributed ledger technology (DLT) as-a-service platform is now live.

Known as Synfini -- which the ASX claims is a name that blends synchronisation and infinite possibility together -- is a full-service, cloud-based blockchain technology underpinned by VMWare Blockchain, the same underlying technology being used for ASX's Clearing House Electronic Subregister System (CHESS) replacement.

According to ASX, the platform has been designed to provide customers access to its DLT infrastructure, data hosting, ledger services, and support, including automated consent management and sovereignty to data owners to ensure each party can see only the data on the ledger that they have permission to access.

ASX group executive Dan Chesterman said introducing DLT-as-a-service "eliminates the need for organisations to build, run, and support their own environment, reducing cost, complexity, and risk".

"Synfini has the potential to open up a new world of opportunity for companies, both in and outside financial markets, to design and build innovative, digital, multi-party solutions on ASX's world-class ledger," he said.

The platform has also been designed to leverage Digital Asset Modeling Language (Daml).

"With Daml, organisations build applications that ensure systems remain in sync and entitled users have access to reliable, real-time information, and transaction status at all times," ASX DLT Solutions business development general manager Paul Stonham added.

Some of the early adopters of the platform have included KPMG, which is using it to host an application it is creating and operating for the New South Wales government's building assurance solution; Broadridge, which is developing an application that automates and eliminates paper for off-market transfers in the equities market; and Boulevard, which is building an ownership register for private companies.

Australian blockchain firm DigitalX, meanwhile will host its Drawbridge app on Synfini. Drawbridge is a regtech application designed to help companies reduce employee and director securities trading risks by automating the approval process.

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