NYSE selects Avalanche for tokenized stock settlement
6.7 Banking NYSE selects Avalanche as the settlement layer for its tokenized stock platform, aiming for a year-end launch pending SEC approval. Avalanche will enable instant settlement and stablecoin-based funding.
The New York Stock Exchange (NYSE) has chosen Avalanche as the primary settlement ledger for its upcoming tokenized securities platform, following about a year of testing. Pending regulatory approval, this platform aims to enable 24/7 trading, clearing, and settlement of tokenized US equities and ETFs. Avalanche will be integrated with NYSE’s existing Pillar matching engine, allowing the exchange to match buy and sell orders while leveraging Avalanche’s blockchain for instant settlement and stablecoin-based funding. While the platform will support stocks issued on multiple blockchains, Avalanche will serve as the exclusive settlement layer, surpassing networks like Ethereum and Solana. This initiative reflects a broader trend among traditional financial institutions to modernize market infrastructure with blockchain technology. The impact on Avalanche’s AVAX token will depend on its role in transaction fees. Despite some resistance from major companies regarding tokenization, NYSE is targeting a launch by year-end, pending SEC approval.
