NYSE selects Avalanche to power settlement for tokenized stock platform

Avalanche has been selected to provide the core blockchain ledger technology for the clearing firm supporting the New York Stock Exchange’s upcoming tokenized securities trading platform. Summary NYSE has selected Avalanche to provide the core ledger technology for the clearing firm supporting its upcoming tokenized securities trading platform. Avalanche will handle the recording and settlement of transactions, while the proposed venue is designed to support equities issued across multiple blockchain networks. The selection follows roughly a year of testing by NYSE, during which the exchange evaluated Avalanche’s technical capabilities, operating costs and compatibility with its existing infrastructure. The planned platform will support 24/7 trading and onchain settlement of tokenized securities, subject to regulatory approval. NYSE has been working with several technology and transfer agent partners, including Broadridge, Computershare, Equiniti, Securitize and tZERO, to develop the platform. Ava Labs announced on November 9 that its blockchain infrastructure will support the NYSE-affiliated digital alternative trading system (ATS), which is being developed to allow continuous tra...