NYSE chooses Avalanche to settle tokenized stocks
📋 Summary
Avalanche will provide the ledger used by the clearinghouse for the future NYSE-linked tokenized stock platform. The project envisages trading and settlement around the clock, but still depends on regulatory approvals in the United States.
Avalanche was chosen to provide the recordkeeping and settlement technology for the future tokenized securities platform affiliated with the New York Stock Exchange (NYSE). The infrastructure will be used by the clearinghouse for the new digital market, which aims to operate 24 hours a day, seven days a week, with on-chain settlement.
The announcement was made this Monday (9) by Ava Labs, the company responsible for developing Avalanche, and confirmed in an official post by the network. The platform is still subject to applicable regulatory approvals in the United States—in other words, the technology choice does not mean the service has already been cleared to operate.
Avalanche will be NYSE’s settlement layer
Under the announced architecture, the trading platform will be able to accept stocks issued on different blockchains. Avalanche, however, will be the clearinghouse’s central ledger: the network responsible for recording and settling trades completed on the NYSE-linked platform.
Dennis Lee, head of digital issuance at the NYSE, said the settlement system needed to combine speed, reliability, predictable costs, and control over participants. According to the executive, Avalanche meets these requirements and also has a broad developer community.
The choice deepens a project unveiled by Intercontinental Exchange (ICE), the NYSE’s parent company, in January. At the time, the company said the new platform would combine the Pillar trading engine, already used by the exchange, with blockchain systems for post-trade processing.
The design calls for orders denominated in dollars, the purchase of fractional shares, and funding through stablecoins.
📋 Summary
Avalanche will provide the ledger used by the clearinghouse for the future NYSE-linked tokenized stock platform. The project envisages trading and settlement around the clock, but still depends on regulatory approvals in the United States.
Avalanche was chosen to provide the recordkeeping and settlement technology for the future tokenized securities platform affiliated with the New York Stock Exchange (NYSE). The infrastructure will be used by the clearinghouse for the new digital market, which aims to operate 24 hours a day, seven days a week, with on-chain settlement.
The announcement was made this Monday (9) by Ava Labs, the company responsible for developing Avalanche, and confirmed in an official post by the network. The platform is still subject to applicable regulatory approvals in the United States—in other words, the technology choice does not mean the service has already been cleared to operate.
Avalanche will be NYSE’s settlement layer
Under the announced architecture, the trading platform will be able to accept stocks issued on different blockchains. Avalanche, however, will be the clearinghouse’s central ledger: the network responsible for recording and settling trades completed on the NYSE-linked platform.
Dennis Lee, head of digital issuance at the NYSE, said the settlement system needed to combine speed, reliability, predictable costs, and control over participants. According to the executive, Avalanche meets these requirements and also has a broad developer community.
The choice deepens a project unveiled by Intercontinental Exchange (ICE), the NYSE’s parent company, in January. At the time, the company said the new platform would combine the Pillar trading engine, already used by the exchange, with blockchain systems for post-trade processing.
The design calls for orders denominated in dollars, the purchase of fractional shares, and funding through stablecoins.