NYSE to use Avalanche for tokenized securities clearing venue

The New York Stock Exchange’s upcoming tokenized securities platform will use Avalanche as its blockchain infrastructure, Ava Labs announced on Monday. Avalanche is a smart contract blockchain known for high throughput and low-latency transactions. Ava Labs, the lead developer behind Avalanche, said the venue’s clearing firm will keep its transaction records on Avalanche. According to the announcement, Avalanche will act as the primary ledger technology for the clearing process, though the specific clearing firm was not disclosed. Ava Labs stated that, pending regulatory approval, the platform aims to enable its subscribers to trade, clear, and settle securities 24 hours a day, seven days a week. However, there is currently no official launch date.

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