Avalanche Rises as Top Contender for NYSE Parent's 24/7 On-Chain Trading Platform

The parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), is developing an alternative trading system for 24/7 on-chain trading. The exchange group has been evaluating different blockchains and sees Avalanche as a leading candidate, according to ICE executive Michael Blaugrund.

Blaugrund stated that Avalanche 'checks a lot of those boxes' for the exchange group, indicating that it meets their requirements. This is not a formal agreement, but rather a public signal from ICE that Avalanche is being considered for the platform.

ICE has been working on this project for over a year and has partnered with tZERO on settlement infrastructure for tokenized securities. The company has also invested in the crypto exchange OKX, signaling its push to combine traditional market structure with digital-asset rails.

Avalanche has gained momentum with institutional adoption, with brokerage giant Charles Schwab announcing plans to add spot trading for Avalanche and other major crypto assets. However, no deal or launch date has been announced for the 24/7 on-chain trading platform.