NYSE Picks Avalanche to Settle Tokenized Stocks on Planned 24/7 Platform

The New York Stock Exchange has picked the Avalanche blockchain to serve as the core settlement ledger for its planned tokenized securities platform, Ava Labs said in a statement on Monday, November 9, 2026. Avalanche will provide the ledger technology to the clearing firm that supports the planned NYSE affiliated alternative trading system, known as an ATS.

How the platform would work

Stocks traded on the venue could be issued on a range of blockchains. Avalanche would sit underneath as the record where trades are cleared and settled. The exchange would still match buy and sell orders with its own technology, its Pillar trading engine. The design points to trading, clearing and settlement around the clock, with instant settlement and stablecoin based funding among the stated aims, CoinDesk reported.

The platform is not open. It still needs regulatory approval, and reports on Monday pointed to a target launch in the fourth quarter. Nothing is available to regular investors yet. The choice of Avalanche is a plan for a venue that has not started operating, not a finished service.

A year of testing behind the pick

The selection follows about a year of work. In September 2026, Ava Labs President Charley Cooper told The Block that the NYSE had spent the previous year testing Avalanche and working with the company on how the technology could fit into its systems.

Dennis Lee, the head of digital issuance at the NYSE, said the exchange is picking the right technology for each job, and that a settlement ledger has to process transactions fast, keep costs predictable and control who can take part. Ava Labs CEO Emin Gün Sirer said Avalanche would support the platform's 24/7 atomic settlement needs with dedicated infrastructure, predictable performance and costs, and the control the venue needs to meet its regulatory and operational requirements.

Last week the NYSE widened the group of firms backing the venue. It added Broadridge Financial Solutions, Computershare, Equiniti and Superstate as transfer agent partners, joining Securitize and tZERO, which were already on board.

Wall Street is racing to tokenize

Rival projects are moving at the same time. Nasdaq is building its own tokenized stock infrastructure, including work with the parent company of crypto exchange Kraken to distribute blockchain based shares globally. The Depository Trust and Clearing Corporation, which sits at the center of United States securities custody and settlement, launched a tokenization service last month using its private Besu blockchain and the Canton Network. That service centers on custody and transfers rather than on running a trading venue.

Traders reacted fast to the NYSE news. AVAX, the native token of the Avalanche network, was up 8 percent in the past 24 hours, CoinDesk reported.