The New York Stock Exchange will use Avalanche technology to handle clearing and settlement for its planned tokenized securities trading system. While the NYSE's existing Pillar engine will continue matching orders, Avalanche will record the actual transfer of tokenized shares and cash, replacing traditional multi-day clearing with instant blockchain settlement. The platform has not yet launched and awaits regulatory approval.
Ava Labs announced the arrangement on Monday. Testing between NYSE parent Intercontinental Exchange and Avalanche had been underway for roughly a year as of September 2026. The AVAX token jumped more than 9.5 percent to around $8.78 following the news, though analysts note that settlement activity on a permissioned chain may not directly increase demand for the token.
Read the full story on BSC News: NYSE-Affiliated Tokenized Securities Platform Picks Avalanche (AVAX) for Clearing and Settlement
Want the day's biggest crypto stories in one email each morning? Subscribe to The BSCN Debrief