Reporting · companies
Avalanche to host clearing for NYSE tokenized trading venue
Ava Labs says Avalanche will host clearing for an NYSE tokenized venue, which has no launch date and still needs regulatory approval.
Quick take
- Avalanche will host clearing for a tokenized venue being built by an NYSE affiliate, according to Ava Labs.
- The platform is designed for round-the-clock trading and settlement but has no launch date yet.
- The exchange's digital issuance head said the venue will support equities across multiple blockchains, which matters for crypto readers tracking tokenized stocks.
Unchained reported that Avalanche will host clearing for a tokenized trading venue being built by an affiliate of the New York Stock Exchange. Ava Labs announced the plan on Monday. The venue is structured as an alternative trading system, and the release does not name the clearing firm involved.
According to the release, the platform is designed for trading and settlement around the clock. The launch is subject to regulatory approval, and no launch date has been given. Dennis Lee, NYSE head of digital issuance, praised Avalanche and said the venue will support equities on multiple blockchains.
Emin Gün Sirer, chief executive of Ava Labs, cited predictable performance and costs in support of the network.
Earlier this year, NYSE unveiled the platform in January, including its Pillar matching engine. In March, the exchange signed a memorandum of understanding with Securitize. Both steps came before the Avalanche announcement, which places the clearing plan within the exchange's wider digital issuance work.
Sources
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