NYSE picks Avalanche to settle tokenized stock trades
The exchange plans to launch its tokenized stocks platform by the end of the year, subject to approval from the US Securities and Exchange Commission.
Key takeaways
- 1The NYSE picked Avalanche as the settlement network for its tokenized stocks platform.
- 2Launch is planned by the end of 2026, subject to SEC approval.
- 3Avalanche was chosen over Ethereum and Solana for settlement.
The New York Stock Exchange has chosen Avalanche as the settlement network for its planned tokenized stocks platform, Avalanche said in a post on X on Monday. The exchange aims to launch the platform by the end of 2026, pending approval from the US Securities and Exchange Commission (SEC).
Ava Labs, the company behind Avalanche, said the blockchain will provide the core ledger for clearing and settlement on the NYSE-affiliated platform. The platform is designed for round-the-clock trading, clearing and settlement of tokenized equities, including shares issued on other blockchains.
Avalanche was picked over Ethereum and Solana for the settlement role. Tokenized stocks are blockchain tokens that represent ordinary shares, and they can settle in minutes instead of the one business day that US stock trades take today.
The choice puts the NYSE among the large Wall Street firms racing to move shares onto blockchains. The exchange has not said which stocks it will list first or what it will charge.
What to watch next: the SEC's decision on the platform, and the first listings if it is approved.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.