Avalanche to Provide Settlement Ledger for NYSE-Linked Tokenized Securities Platform

TechFlow news, November 10: According to an announcement by Ava Labs, Avalanche will provide core ledger technology for a proposed NYSE-affiliated digital trading platform clearinghouse, supporting the clearing and settlement of tokenized securities.

After obtaining applicable regulatory approvals, the platform plans to provide users with 24/7 trading, clearing, and settlement services. Dennis Lee, NYSE Head of Digital Issuance, said the platform will support stocks issued on multiple blockchains, while the ledger used to record and settle transactions will use Avalanche technology.

Source: TechFlow