Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), chose Avalanche to support clearing and settlement for a proposed tokenized-securities venue, extending blockchain use into exchange infrastructure.
In January, the NYSE outlined a digital marketplace where users could trade tokenized U.S. shares and exchange-traded funds beyond regular market hours. The plan includes clearing and settlement. Securities may be represented on other networks, while Avalanche is slated to serve as the settlement ledger. EconoTimes previously described the proposed venue’s settlement setup.
GSR research analyst Carlos Guzman said securities trades would be executed off-chain. He said a dedicated Avalanche system would process clearing and settlement outside the public C-Chain, where most activity on the network occurs.
Mercuryo North America lead Luther Maday said Avalanche had been evaluated for about a year on reliability, performance and controls before ICE made its choice. NYSE Head of Digital Issuance Dennis Lee has described performance, predictable costs and the ability to manage participation as ledger requirements.
Guzman said the selection could make institutional users more receptive to blockchain-based settlement, pointing to faster processing and programmable transactions. Symbiotic founder Misha Putiatin said whether Avalanche can gain lasting economic value from the activity remains an open question.
The venue still requires regulatory approval before it can proceed. No approval date has been announced.
