NYSE Wraps Year-Long Evaluation of Avalanche Blockchain Tech
The New York Stock Exchange (NYSE) has completed a year-long evaluation of Avalanche technology as part of its initiative to tokenize American stocks and exchange-traded funds. The evaluation was conducted by Intercontinental Exchange, NYSE's parent company.
Ava Labs President Charley Cooper revealed that the NYSE had been analyzing how Avalanche's technology could integrate seamlessly with the exchange's current operational infrastructure, not just from a technical standpoint but also in terms of business strategy and commercial requirements.
Although the NYSE has not officially confirmed Avalanche as its chosen blockchain platform, ICE Head of Strategic Initiatives Michael Blaugrund confirmed that the company had satisfied numerous criteria established by ICE for consideration. The NYSE plans to integrate its current Pillar matching engine with blockchain infrastructure to manage post-trade processes.