Ava Labs exec says NYSE deal marks end of blockchain’s ‘general purpose era’

Avalanche is set to power the ledger behind an NYSE-affiliated tokenized securities venue, and Ava Labs says institutions are done with one-size-fits-all chains The New York Stock Exchange has picked a blockchain. According to Ava Labs, that choice says as much about where the industry is heading as it does about Avalanche itself. John Nahas, chief business officer at Ava Labs, the company behind the Avalanche network, argues that traditional finance is leaving the era of general purpose blockchains behind. In his telling, institutions have stopped running experiments and started building purpose-built infrastructure for markets that already move real money. Avalanche is set to serve as the core ledger technology for a forthcoming digital alternative trading system affiliated with the NYSE.

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