WSJ: NYSE picks Avalanche for tokenized stock settlement

The New York Stock Exchange has exclusively selected Avalanche (AVAX) as the settlement blockchain for its planned 24-hour tokenized securities trading platform, The Wall Street Journal reported. The platform is targeting a fourth-quarter launch, subject to regulatory approval, and is expected to match trades using NYSE’s existing technology while settling them instantly through Avalanche. Kevin Tyrell, NYSE’s chief product officer, said the exchange chose Avalanche after testing multiple technology providers and weighing its processing speed, throughput, and ability to build a permissioned network that meets regulatory requirements. The platform also plans to support trade funding with stablecoins.