Add as a preferred source on GoogleAvalanche to Supply Ledger for NYSE-Linked Tokenized Securities Venue
The proposed venue would offer 24-hour trading in tokenized U.S. stocks and exchange-traded funds, subject to regulatory approval.
Avalanche announced Nov. 9 that it will supply core ledger technology to the clearing firm supporting a planned New York Stock Exchange (NYSE)-affiliated tokenized securities venue, defining its role in the proposed U.S. market.
The ledger would support the recording and settlement of trades after the NYSE’s Pillar system matches orders. NYSE parent Intercontinental Exchange outlined plans in January for 24-hour trading of tokenized U.S. stocks and exchange-traded funds, immediate settlement and stablecoin funding. The proposed system can accommodate multiple blockchains for settlement and custody.
Avalanche (AVAX) traded at $8.46 on Binance’s spot AVAX/USDT market at 7:31 a.m. ET (12:31 UTC) Nov. 9. That was 5.02% above its $8.05 price on the same market one hour earlier.
Avalanche was among the networks being evaluated for the project in September, when no role had been announced. The venue remains subject to regulatory approval.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.