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NYSE picks Avalanche for planned 24/7 tokenized stock platform

Tokenized stocks, which are shares represented as digital tokens on blockchains, are growing in value. Avalanche holds five percent of the market, and Zoth's CEO says access is widening while ownership risks remain.

Illustration: A pair of hands passes a round token across a table, with a plain wooden house model nearby, in bold black lines.
Illustration

Three U.S. tokenized stock venues have each picked a different blockchain over the past week. The New York Stock Exchange has chosen Avalanche as the only settlement chain for its planned platform, which would trade 24 hours a day.

On November 4, a stock listed as $CNTN became the first U.S. equity to trade under a rule the SEC calls the Innovation Exemption. The move marks an early step for shares that trade on blockchains rather than on traditional exchanges.

In numbers

5%Avalanche share of tokenized stocks

Avalanche now holds five percent of the tokenized stock market. In the value tracked by the material, SPCX has overtaken CRCL, showing how quickly the market's leaders are shifting.

The chief executive of Zoth says tokenized stocks can widen access for investors, but that ownership risks have not gone away. For a general reader, the main question is who really owns the token and what rights come with it.

Background

Tokenized stocks are company shares recorded as digital tokens on a blockchain, the public record-keeping system behind crypto assets.

GuideCrypto Fear and Greed Index today: how fearful or greedy the crypto market is

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