The New York Stock Exchange (NYSE) has picked Avalanche to supply the core ledger technology for the clearing firm behind its planned tokenized-securities trading platform. The announcement was made by Ava Labs, the developer of Avalanche, on Monday, November 9, 2026, and marks one of the largest institutional endorsements ever given to a public blockchain.
The platform, structured as an NYSE-affiliated alternative trading system (ATS), is designed to enable trading, clearing and settlement of tokenized stocks and ETFs 24 hours a day, seven days a week. Avalanche will record and settle the trades, while order matching will continue to rely on the exchange's traditional technology, including the Pillar matching engine. The venue will accept stocks issued on different blockchains, but settlement will run through a single ledger: Avalanche's.
A year of testing before the choice
According to Ava Labs, the choice followed roughly a year of technical evaluations and discussions with the NYSE and its parent, Intercontinental Exchange (ICE). Dennis Lee, the NYSE's head of digital issuance, said the exchange assessed requirements such as reliable transaction processing, predictable costs, permissioned participation controls and access to an established developer ecosystem — and concluded that Avalanche meets all of those needs. Ava Labs president Emin Gün Sirer highlighted predictable costs, controlled participation and connectivity with other blockchain assets.
What is still missing
The platform still depends on approval from the SEC, the U.S. securities regulator, and there is no confirmed date for operations to begin — reports point to the fourth quarter as the expected window. The NYSE first announced the project in January 2026. Technology and transfer partners involved include Broadridge, Computershare, Equiniti, Securitize and tZERO, and ICE is also working with BNY and Citi on tokenized deposits to help clearing members move funds outside banking hours.
The announcement also has a controversial side: according to a Decrypt tally, 67 companies have already objected to having their shares tokenized without permission, including all of the so-called “Magnificent Seven”. The debate over consent and shareholder rights is likely to follow the project's regulatory review.
On the day of the announcement, the AVAX token rose about 8.6% to $8.95, according to CoinGecko data compiled by trade press — a sign of how the market read the news, not a guarantee of future performance.
Image credit: facade of the New York Stock Exchange, photo by Ryan Schwark, via Wikimedia Commons (CC0, public domain).
Sources
- Crypto Times — Avalanche to Underpin NYSE Tokenized Securities Clearing Firm
- Kaupr — NYSE has picked Avalanche as settlement ledger for tokenised stocks
- KuCoin News — NYSE Selects Avalanche for Tokenized Securities Ledger
- WEEX — NYSE selects Avalanche to power settlement for tokenized stock platform
Transparency: this article was produced with the help of artificial intelligence, cross-checked against public posts on X and sources on the internet. The information was verified in more than one independent source. Please consult the original sources to confirm the details.
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