The New York Stock Exchange (NYSE) plans to use Avalanche as the sole settlement ledger for a proposed tokenized-securities venue, bringing blockchain infrastructure into a round-the-clock stock trading plan.
NYSE announced in January that it was developing a digital platform where subscribers could trade tokenized U.S. stocks and exchange-traded funds at any hour. The platform would also handle clearing and settlement. The plan remains subject to regulatory approval.
Avalanche was selected as the planned venue’s sole settlement ledger. EconoTimes previously covered Ava Labs’ ledger announcement.
Tokenized stocks may also be listed through other blockchain networks. Other networks could host the tokenized shares, while trades on the venue are slated to settle on Avalanche. The exchange has not announced an approval date.
