Avalanche to Provide Ledger for Planned NYSE Venue

Ava Labs said November 9 that its Avalanche blockchain will provide ledger technology for clearing and settling transactions at a planned New York Stock Exchange-affiliated tokenized-securities venue. The proposal remains subject to regulatory approval, and no approval date has been announced.

The ledger is intended to record transactions and support their settlement through the venue’s clearing firm. The planned platform is designed for around-the-clock trading, clearing and settlement of tokenized securities, including equities listed across multiple blockchain networks. Its proposed continuous schedule would extend trading beyond conventional market hours.

NYSE Head of Digital Issuance Dennis Lee said the venue would need a reliable settlement ledger with predictable costs and controls over participation. He said the planned venue would support equities listed on different blockchains, while the ledger handling settlement would serve a distinct role.

The New York Stock Exchange announced in January that it was developing the digital securities venue. The exchange, part of Intercontinental Exchange, has described plans for a platform combining its existing trading technology...