NYSE Picks Avalanche to Settle Tokenized Stock Trades on Planned 24/7 Venue

Avalanche (AVAX) will settle trades on a planned 24/7 tokenized securities platform from the New York Stock Exchange (NYSE), the latter said on Monday. NYSE will use no other chain for that job, The Wall Street Journal reported , and its existing technology will match buy and sell orders, with Avalanche settling each trade instantly. Ava Labs, the company behind the blockchain network, said Avalanche will serve as the core ledger for the platform’s clearing firm. Fourth Quarter Launch The platform is targeting a fourth-quarter launch, pending regulatory approval. Dennis Lee, Head of Digital Issuance at NYSE, said the exchange is picking the right technology for each job.

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