The New York Stock Exchange has picked Avalanche to settle tokenized stocks on its planned 24/7 trading platform, in a major step for Wall Street's move onto the blockchain.
Ava Labs announced on Monday, November 9, that Avalanche will provide the core ledger technology for the clearing firm behind a new NYSE-affiliated venue for tokenized securities, with trading, clearing and settlement running around the clock, subject to regulatory approval. The exchange will keep its Pillar engine for matching orders and run a custom blockchain built on Avalanche technology. AVAX, Avalanche's token, rose about 8 percent on the news.
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