NYSE brings stocks to Avalanche, but bans direct wallets

The Avalanche blockchain will supply the ledger that records and settles trades for a planned tokenized-securities venue affiliated with the New York Stock Exchange, Ava Labs announced Nov. 9. The upcoming alternative trading system (ATS) is intended to offer round-the-clock trading, clearing, and settlement, subject to regulatory approvals. Avalanche will provide the core ledger technology to the platform's clearing firm. Dennis Lee, NYSE's head of digital issuance, said in the Ava Labs release that the ledger needed speed, reliability, predictable costs, developers, and the ability to “let us control who can take part.” Lee also said the platform would support equities on a range of blockchains, so the announced clearing-ledger choice does not require every security traded on the venue to use Avalanche as its issuance chain .

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