Avalanche to Supply Ledger for Planned NYSE Tokenized Securities Venue

Avalanche will provide the core ledger for a planned New York Stock Exchange-affiliated tokenized securities venue, while its AVAX token rose about 9% from the prior daily close.

Ava Labs announced the role Nov. 9 at 8 a.m. ET (13:00 UTC), saying Avalanche would supply ledger technology to the venue’s clearing firm. The announcement did not identify the firm or set a launch date.

On UTC daily closes, AVAX was $8.64 on Nov. 9, up from $7.93 on Nov. 8. The roughly 9% increase is a close-to-close comparison.

The venue is designed for round-the-clock trading, clearing and settlement, subject to regulatory approvals. It is planned to support equities listed on multiple blockchains, so Avalanche’s ledger role does not make it the only network for issuance.

In January, Intercontinental Exchange outlined a planned venue with instant settlement, dollar-sized orders and stablecoin funding, along with support for multiple chains. The platform has not launched and requires regulatory approval before it can begin operations.