Avalanche Wins a Core Role in the NYSE’s Plan to Trade Stocks Onchain

The New York Stock Exchange’s upcoming tokenized securities platform will use the Avalanche network as its main ledger for clearing and settling trades. Avalanche will supply the ledger technology to the clearing firm behind a planned NYSE affiliated alternative trading system, which aims to run around the clock once regulators approve it. Avalanche will not be the only chain involved, since the platform is built to support shares issued on several networks while recording and settling trades on Avalanche. NYSE digital issuance head Dennis Lee said the exchange wanted a ledger that is fast, keeps costs predictable and controls who can take part. AVAX rose about 8% over the past 24 hours after the announcement.

NYSE Tokenized Stock Platform Plans

The exchange does not plan to put every part of trading on one chain. Its design pairs the Pillar trading engine with blockchain based clearing, settlement and custody, aiming for 24/7 trading, instant settlement and stablecoin funding. Last week it grew its transfer agent network to six firms, adding Broadridge, Computershare, Equiniti and Superstate alongside Securitize and tZERO.

Wall Street Tokenization Race Heats Up

Nasdaq, DTCC and the SEC Exemption

Nasdaq is building its own tokenized stock infrastructure, including a partnership with the parent company of Kraken to distribute blockchain shares worldwide. The DTCC launched a tokenization service last month on its private Besu chain and the Canton Network, focused on custody and transfers rather than trading. A separate route is the SEC innovation exemption, which lets select venues trade tokenized stocks through automated market makers, with issuers able to opt out. The OKX and Intercontinental Exchange venue falls under that route and is separate from the NYSE affiliated platform.