🗽 NYSE selects Avalanche for clearing and settlement on its planned 24/7 tokenized securities platform
Ava Labs said Monday that the New York Stock Exchange has selected the Avalanche blockchain to handle ledger functions related to clearing and settlement for its planned around-the-clock tokenized securities platform. The platform is designed to support 24/7 trading, clearing, and settlement of tokenized securities. It is subject to regulatory approval, aims to launch in the fourth quarter, and will use the NYSE’s existing technology for matching orders.
The selection followed about a year of testing. Dennis Lee, head of digital issuance at the NYSE, said the trading venue will support stocks issued on multiple blockchains, while its settlement ledger needs to offer speed, reliability, predictable costs, and participant control. The NYSE recently also partnered with Broadridge, Computershare, Equiniti, and Superstate; Securitize and tZERO had previously been named as partners.
⭐ A traditional exchange is placing the settlement layer for tokenized securities on public blockchain infrastructure. Avalanche has secured a high-profile institutional use case, but launch still depends on regulatory approval.
#NYSE #Avalanche #Tokenization
Ava Labs said Monday that the New York Stock Exchange has selected the Avalanche blockchain to handle ledger functions related to clearing and settlement for its planned around-the-clock tokenized securities platform. The platform is designed to support 24/7 trading, clearing, and settlement of tokenized securities. It is subject to regulatory approval, aims to launch in the fourth quarter, and will use the NYSE’s existing technology for matching orders.
The selection followed about a year of testing. Dennis Lee, head of digital issuance at the NYSE, said the trading venue will support stocks issued on multiple blockchains, while its settlement ledger needs to offer speed, reliability, predictable costs, and participant control. The NYSE recently also partnered with Broadridge, Computershare, Equiniti, and Superstate; Securitize and tZERO had previously been named as partners.
⭐ A traditional exchange is placing the settlement layer for tokenized securities on public blockchain infrastructure. Avalanche has secured a high-profile institutional use case, but launch still depends on regulatory approval.
#NYSE #Avalanche #Tokenization
