WALL STREET IS CHOOSING BLOCKCHAIN TO BUILD TOKENIZED SECURITIES INFRASTRUCTURE. On November 9, Avalanche was selected as the core ledger technology for a tokenized securities platform developed by an entity affiliated with the NYSE. The platform aims to enable 24/7 trading, clearing, and settlement, subject to regulatory approval. But there’s a more significant detail than AVAX’s price surge. The NYSE stated it still intends to support stocks issued across multiple blockchains. However, the ledger layer responsible for recording and settling transactions must meet very specific criteria: - High processing speed. - Stable operation. - Predictable costs. - Controlled participant access. - A robust developer ecosystem. This opens up an intriguing model: Issue on multiple chains. Settle on one ledger. Assets can exist across multiple blockchains, but final recording and settlement are centralized on a single infrastructure that meets financial institutions’ requirements. If this model is successfully implemented, competition among Layer 1 blockchains will no longer be solely about TPS, gas fees, or TVL. It will instead center on a more critical question: Which blockchain is capable of serving as the settlement infrastructure for traditional financial markets? This is the real competition to watch in the RWA story. Note: The platform remains subject to regulatory approval and is not yet operational.