New York Stock Exchange Selects Avalanche as Core Ledger for Tokenized Securities Platform

Odaily reports: The New York Stock Exchange will adopt Avalanche as the core ledger technology for its planned tokenized securities platform, which will support round-the-clock trading, clearing, and settlement, and still requires regulatory approval. Ava Labs announced on Monday that the platform is being developed by Intercontinental Exchange, the parent company of the NYSE.

GSR research analyst Carlos Guzman said the selection enhances Avalanche's institutional credibility; Luther Maday, head of North America at crypto payment company Mercuryo, noted that the decision was made after roughly a year of testing, indicating the network passed checks on performance, reliability, and control.

The platform will run on dedicated Avalanche infrastructure rather than the public C-Chain that carries the majority of network activity, and transactions will still be conducted off-chain. Analysts said infrastructure adoption may not necessarily translate into long-term appreciation of AVAX value; the specific utility of AVAX within the dedicated infrastructure remains worth watching. (Decrypt)