NYSE Selects Avalanche for Tokenized Securities Clearing and Settlement

The New York Stock Exchange (NYSE) has chosen the blockchain platform Avalanche to serve as the core ledger technology for clearing and settling trades on its forthcoming tokenized securities platform. This new NYSE-affiliated platform, which is still awaiting regulatory approval, aims to record and settle transactions for securities issued across various blockchain networks. The initiative follows the NYSE's announcement in January regarding its plans to develop a platform for trading and settling tokenized securities, including US-listed stocks and exchange-traded funds (ETFs).