NYSE Evaluates Avalanche Technology for Tokenized Securities
- The New York Stock Exchange (NYSE) has spent the past year testing Avalanche technology with Ava Labs.
- Ava Labs President Charlie Cooper stated that NYSE’s planned platform for tokenized securities is still awaiting a final blockchain decision.
- Michael Blaugrund, of NYSE parent Intercontinental Exchange (ICE), confirmed that Avalanche meets many technical requirements under consideration.
- The tokenized-securities platform aims to facilitate trading and onchain settlement of shares and ETFs, pending regulatory approval.
- Avalanche has also been involved in various projects, including FIFA’s ticketing system for the upcoming World Cup and plans by South Korea to move capital markets onchain.
The NYSE is exploring how Avalanche can integrate into its infrastructure while assessing its broader business needs, indicating a significant shift towards blockchain technology in traditional finance.
As NYSE continues its evaluation, the future of its tokenized-securities platform remains uncertain without a designated blockchain solution.(Source)
