Ava Labs announced that the New York Stock Exchange plans to use Avalanche as the core ledger for clearing and settlement on a tokenized securities platform developed by NYSE parent Intercontinental Exchange. The platform is intended to support 24/7 trading, clearing and settlement, but remains subject to regulatory approval. Trading would take place off-chain, while clearing and settlement would use dedicated Avalanche infrastructure rather than the public C-Chain.
Analysts told Decrypt the selection was a credibility gain for Avalanche, but warned that it would not necessarily increase the value of its AVAX token. AVAX had risen 3.6% over the previous day to $8.64, according to Decrypt data.
