NYSE Tests Avalanche Tech for Tokenization Plans

The NYSE has been testing Avalanche's technology for tokenization plans over the past year. Charley Cooper, president of Ava Labs, revealed this at the Avalanche Summit in New York. The test involved evaluating both the technical aspects and the economics of the project.

The NYSE is developing a platform for onchain trading and settlement of U.S. stocks and exchange-traded funds, pending regulatory approval. This will combine the Pillar order-matching engine with post-trade infrastructure based on blockchain technology.

Ava Labs has been working closely with ICE, the parent company of the NYSE. Michael Blaugrund, Head of Strategic Initiatives at ICE, stated that Avalanche 'meets many of those requirements' evaluated by the firm.