The future of ASX blockchain trial was being questioned following the sudden resignation of ASX CEO Elmer Funke Kupper. Last month, with the release of its half-year results to 31 December 2015, the ASX announced that it will develop solutions for Australia’s post-trade equity environment using distributed ledger technology.

It was under Funke Kupper’s leadership that ASX entered into a deal with blockchain startup Digital Asset Holdings, to explore moving ASX’s post-trade processes to a version of the software that underpins the bitcoin digital currency.

However, clarifying the stance on blockchain, Rick Holliday-Smith, chairman of ASX Ltd., told Bloomberg his company is committed to exploring blockchain technology.

“The ASX Board is committed to the development of distributed ledger technology,” Holliday-Smith, who is running ASX until a new CEO is hired, said in an e-mailed statement to Bloomberg. “It offers a unique opportunity for Australia to be a leader in the assessment of innovative market solutions.”

In January, ASX agreed to invest A$14.9 million into Digital Asset and selected the startup to develop solutions for the Australian market utilizing Distributed Ledger Technology. The initial focus was said to be on post-trade (clearing and settlement) services in the cash equities market. In the first phase, ASX’s existing trading and risk management systems will be replaced, while the next phase will focus on ASX’s post-trade services, including clearing and settlement of the cash equities market.

“Consistent with the comment from Chairman Holliday-Smith, the ASX project is proceeding as planned,” Masters told Bloomberg in a telephone interview from Australia. “The early results are very promising.”

Elmer Funke Kupper resigned on Monday as police investigate activities in Cambodia of the Australian betting company he formerly led. According to a statement, Funke Kupper told the ASX board he was stepping down to focus on any potential probe at Tabcorp Holdings Ltd., which he led between 2007 and 2011.