Ava Labs CBO says NYSE-Avalanche tie-up marks end of general-purpose blockchains era

John Nahas, chief business officer at Avalanche developer Ava Labs, said in an interview with Cointelegraph that the New York Stock Exchange's collaboration with Avalanche on a tokenized securities platform marks the end of the era of general-purpose blockchains. Nahas said financial institutions want on-chain infrastructure designed for their own needs rather than simply experimenting with blockchain adoption. Nahas added that capital markets in particular require stable performance, predictable costs, and control over networks and participants, while general-purpose blockchains are difficult to tailor to the regulatory and operational frameworks of traditional finance. Nahas also said the NYSE tested Avalanche for a year, and Ava Labs adjusted the technology to meet the exchange's requirements. CoinNess previously reported that Avalanche had been selected as the sole settlement infrastructure for the NYSE's planned 24-hour tokenized securities trading platform.