CryptoUnited States

NYSE picks Avalanche to settle tokenized stock trades

The New York Stock Exchange has chosen Avalanche, a blockchain network, to settle trades on its planned round-the-clock tokenized stock venue. Avalanche's AVAX token rose 10% after the news, and the venue still needs US regulatory approval.

Illustration: A glowing share certificate made of cyan light floats above a dark city street at night, breaking into small digital blocks that drift toward a distant magenta-lit network of linked nodes.
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The New York Stock Exchange, known as the NYSE, selected Avalanche to run settlement for its tokenized stock platform. Avalanche is a blockchain, which is a digital ledger shared across many computers to log transactions. Settlement refers to the last stage, where ownership moves and money is paid. The NYSE aims to launch the platform before the end of the year, though the Securities and Exchange Commission (SEC) still needs to sign off.

Avalanche will supply the core ledger technology for the clearing firm behind the venue, a firm that has not been named. Ava Labs, the company behind Avalanche, said the venue aims to run trading, clearing and settlement around the clock, all recorded on the blockchain. Broker distribution was set before the selection, and the venue still needs regulatory approval.

Illustration: Seen from above at night, a single glowing cyan chain of linked blocks stretches across a wet street, ending at a lit, plain stock exchange doorway with a few small anonymous figures passing by.
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A statement from Dennis Lee of the NYSE said listed shares can come from several blockchains, not only Avalanche. The clearing firm's trades will be recorded and settled on Avalanche. Lee's remarks came with the announcement of the choice.

In numbers

10%AVAX gain after deal
18.5%Pendle DeFi market share

The news lifted AVAX, Avalanche's token. AVAX rose 10% after the deal was reported, and it led gains among major cryptocurrencies at the time.

Avalanche$8.57down −21.82%over 1 month
$10.96$7.9312 Oct11 Nov

Prices by CoinGecko. Past moves say nothing about future ones.

Other firms are pursuing similar plans. Formation Securities has told the SEC that it intends to run a tokenized stock marketplace on Solana under the agency's Innovation Exemption. In early 2027, it also expects to offer digital shares in Exodus, Forward Industries and Galaxy Digital. Separately, Pendle is now the biggest DeFi trading venue for tokenized stocks, holding about 18.5% market share. DeFi, or decentralized finance, means trading that runs on blockchains with no traditional broker in the middle.

For ordinary investors, the plan would mean stock trades could be settled at any hour, with settlement that is immediate. None of this can start until regulators give their approval, and the NYSE's timetable depends on that.

What comes next

The NYSE plans to roll out its tokenized stock platform by year-end, pending SEC approval.

$1,000 in Avalanche

Had you put $ into Avalanche a month ago, it would be worth – now.

From the prices in the chart, before any fees or taxes. Not a suggestion to buy or sell.

Who is who

  • Dennis LeeNYSE, quoted in announcement

Background

Other firms are also building tokenized stock venues, including Formation Securities on Solana.

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Avalanche

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake

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