NYSE Tests Avalanche Tech for Tokenized Securities Platform

The New York Stock Exchange (NYSE) has been testing Avalanche technology for roughly a year as part of its development of infrastructure for tokenized securities, according to Ava Labs President Charley Cooper. The collaboration between NYSE and Ava Labs is not just about the technical aspects of Avalanche, but also about understanding the business model and economics behind it.

Cooper emphasized that the exchange was not simply 'kicking the tires' on their technology, but wanted to ensure that Ava Labs understood its business and economic requirements. This close working relationship has been developed over the past year, with NYSE evaluating Avalanche as part of its onchain plans.

Avalanche checks many of the boxes for ICE, which owns NYSE, according to Michael Blaugrund, Head of Strategic Initiatives at Intercontinental Exchange (ICE). The proposed platform would support tokenized U.S. stocks and ETFs with blockchain-based settlement, subject to regulatory approval.