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An NYSE-Affiliated Exchange Will Settle Tokenized Stocks on Avalanche. What Does That Do to the AVAX Price?
- On Monday, Ava Labs announced that Avalanche will support the NYSE-affiliated digital alternative trading system , providing core ledger technology for the platform's clearing firm.
- The NYSE spent approximately 12 months testing Avalanche technology before selecting it, with Dennis Lee, Head of Digital Issuance at the NYSE, citing needs for reliable transaction processing, predictable costs, and participant controls.
- On November 2, the exchange added Broadridge Financial Solutions, Computershare, Equiniti, and Superstate as transfer agents, joining Securitize and tZERO to bring the total to six participants.
- Subject to regulatory approval, the platform is designed to operate 24/7, allowing investors to place orders in dollar amounts and purchase fractional shares of tokenized US equities.
- Emin Gün Sirer, CEO and Founder at Ava Labs, stated the arrangement provides dedicated infrastructure for operational and regulatory needs, saying "the upcoming tokenized securities platform shows why this model matters for capital markets.
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29 Articles
29 Articles
An NYSE-Affiliated Exchange Will Settle Tokenized Stocks on Avalanche. What Does That Do to the AVAX Price?
Avalanche just landed a spot in the NYSE's tokenized stock plans, and AVAX jumped on the news. Yet the announcement leaves out one detail about the token itself, and past tokenization rallies have a habit of fading.
·Lakewood, United States
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NYSE selects Avalanche to power settlement for tokenized stock platform
Avalanche has been selected to provide the core blockchain ledger technology for the clearing firm supporting the New York Stock Exchange’s upcoming tokenized securities trading platform. Ava Labs announced on November 9 that its blockchain infrastructure will support the NYSE-affiliated…
Avalanche to Serve as Core Ledger Technology for Clearing and Settlement of NYSE-affiliated Upcoming Tokenized Securities Platform
/PRNewswire/ -- Ava Labs today announced that Avalanche, a high-performance blockchain platform built to power the next generation of financial products, will...
·Chicago, United States
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Total News Sources29
Leaning Left0Leaning Right1Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
C 83%
R 17%
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