New York Stock Exchange Selects Avalanche for Tokenized Securities Platform

The New York Stock Exchange has selected the Avalanche network as the ledger technology for a tokenized-securities platform being developed by its parent, Intercontinental Exchange, bringing blockchain infrastructure into a planned U.S. market system.

The platform is designed to support trading, clearing and settlement of tokenized securities around the clock. It remains subject to regulatory approval, so 24/7 trading is a planned capability.

Mercuryo North America head Luther Maday said the selection followed about a year of testing on Avalanche. He said the trials examined performance, reliability and control.

Trading itself would take place off-chain, while clearing and settlement would use dedicated Avalanche infrastructure rather than the public C-Chain, which carries most of the network’s activity, GSR research analyst Carlos Guzman said.

The selection does not resolve how the platform will affect AVAX, Avalanche’s token. Symbiotic founder Misha Putiatin said the network still faces the challenge of converting infrastructure use into value for its token.