CryptoUpdated Yesterday

Planned NYSE venue aims to trade tokenized stocks from different chains

An announcement Ava Labs made on November 9 says Avalanche will provide the core blockchain ledger technology for the NYSE-affiliated platform, enabling its clearing agency to clear and settle onchain. The venue also plans round-the-clock trading, clearing and settlement, and aims to trade tokenized stocks issued on different blockchains. That means the stocks’ issuance chains need not be Avalanche, even though the NYSE had previously said Avalanche alone would handle tokenized-stock settlement there. NYSE Head of Digital Issuance Dennis Lee said Avalanche meets requirements for transaction speed, control over participant permissions, predictable costs and a developer ecosystem. Formal launch remains subject to relevant regulatory approvals.

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