NYSE Taps Avalanche to Settle Its Planned Tokenized Stock Platform

In brief

• Ava Labs said Avalanche will provide the “core ledger technology” for the clearing firm behind an NYSE-affiliated tokenized securities platform, designed for 24/7 trading, clearing and settlement pending regulatory approval.
• The move is notable for putting a blockchain beneath the clearing-and-settlement layer—the market’s core plumbing—rather than just tokenizing an individual fund or stock.
• It adds to a Wall Street tokenization, from the NYSE-Blockchain.com deal to the OKX-ICE venue, which every Magnificent Seven stock opt

The New York Stock Exchange is turning to Avalanche to power the behind-the-scenes plumbing of its forthcoming tokenized securities platform, one of the clearest signs yet that Wall Street’s oldest institutions are moving core market infrastructure onto public blockchains.

Ava Labs, the company behind Avalanche, said Monday that the blockchain will serve as the “core ledger technology” for the clearing firm behind an NYSE-affiliated digital trading venue.

The platform, which the NYSE’s parent Intercontinental Exchange previously said it was developing, is designed to allow 24/7 trading, clearing and settlement of tokenized securities, subject to regulatory approval. Running on Avalanche, it aims to bring the clearing of tokenized equities onchain at institutional scale.