NYSE Picks Avalanche as Core Settlement Ledger for Tokenized Stock Platform

The New York Stock Exchange has selected Avalanche to provide the core ledger technology for the clearing firm supporting its planned tokenized-securities platform. Subject to regulatory approval, the NYSE-affiliated venue is designed to offer 24/7 trading, clearing and settlement for tokenized stocks and exchange-traded funds. NYSE said Avalanche was chosen after technical evaluation for its transaction performance, predictable operating costs and ability to control network participation. The decision gives Avalanche a central settlement role in one of Wall Street’s most prominent blockchain-market initiatives, although the platform is not yet live and still requires regulatory clearance.