The New York Stock Exchange just picked a blockchain to settle tokenized stocks. Avalanche. The NYSE said Monday it will settle tokenized stocks on its upcoming 24/7 trading platform exclusively using Avalanche — after about a year of testing multiple providers. The platform pairs the NYSE's existing matching engine with Avalanche for instant settlement, targeting a Q4 launch, pending regulatory approval. Today, US stocks settle T+1 — a full business day after the trade. This platform is built for 24/7 trading and atomic settlement: the trade and the settlement happening in the same moment. AVAX jumped about 10% in four hours on the news, to around $8.65. The catch: it is not live yet, and regulators still have to sign off. But the world's biggest stock exchange just chose a public chain to move its settlement onto. Bitcoin is trading near $74,650, down about 1.6% in 24 hours.
Farhad | Crypto NewsShare
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