NYSE chooses Avalanche for planned tokenised stock settlement
Avalanche will supply the clearing ledger for an upcoming NYSE-affiliated tokenised-securities venue, targeting 24/7 trading and settlement subject to approvals.
Listen to this articleListen
The New York Stock Exchange’s planned tokenised-securities venue will use Avalanche technology to record and settle trades, Ava Labs announced on 9 November 2026. Avalanche will provide the core ledger to the clearing firm supporting an upcoming NYSE-affiliated alternative trading system, or ATS.
A tokenised share represents ownership of a security through a digital token recorded on a blockchain. Trading agrees the purchase; settlement completes the transfer of the security and its payment. The planned venue aims to run trading, clearing and settlement around the clock, subject to regulatory approvals.
Avalanche will supply the settlement ledger
Avalanche’s role is to provide the clearing firm’s ledger for the planned NYSE-affiliated platform. NYSE also confirmed the selection in its 9 November update, describing dedicated infrastructure for clearing tokenised equities at institutional scale.
The design gives different technologies distinct jobs. NYSE’s existing Pillar matching engine is intended to pair buy and sell orders. Blockchain-based systems then handle the steps after a trade, including settlement and custody, under the platform design announced in January.
Issuers can use several blockchains
The upcoming platform is designed to support equities issued across a range of blockchains. Dennis Lee, NYSE’s head of digital issuance, described that approach in the Ava Labs announcement while identifying Avalanche as the technology for recording and settling trades.
NYSE’s stated requirements for that ledger include speed, reliability, predictable costs and control over who can participate. Ava Labs describes dedicated infrastructure built around the market operator’s regulatory and operational requirements.
That architecture gives issuers flexibility over where securities are created while providing a common ledger for the clearing firm’s part of the transaction.
Payment and delivery are designed to happen together
The proposed platform targets 24/7 atomic settlement: payment and delivery complete together. Linking those two legs is intended to reduce the risk of one side handing over its asset while the other side’s obligation remains outstanding.
NYSE’s January design also includes stablecoin-based funding and orders entered as dollar amounts. Investors would be able to buy fractions of a share, alongside the platform’s planned round-the-clock operation.
Shareholder rights remain part of the design
NYSE’s proposed venue supports tokenised shares interchangeable with traditionally issued securities, alongside securities issued digitally from the outset. Its January announcement says tokenised shareholders would retain the usual dividend and governance rights.
The same plan provides access through qualified broker-dealers. Investors’ route into the market therefore depends on the participating firms and the approved venue arrangements.
The next step is the regulatory process for the platform. Today’s announcement identifies Avalanche’s role in the clearing infrastructure for a venue designed to bring stock trading and settlement onto a continuous schedule.
