NYSE's planned tokenized-stock venue will clear and settle trades on Avalanche technology

A planned New York Stock Exchange (NYSE) venue for trading tokenized securities will use Avalanche technology as the core ledger for clearing and settling trades, Ava Labs, the company that builds the Avalanche blockchain, said on November 9. The venue, an alternative trading system (ATS) run by an NYSE affiliate, is designed for 24/7 trading, clearing, and settlement but still needs regulatory approval.

Avalanche's role in NYSE's tokenized stock venue

Tokenization means issuing or recording a traditional asset, such as a share, as a token on a blockchain. Ava Labs said Avalanche will provide the core ledger technology to the clearing firm of the NYSE-affiliated platform. Clearing and settlement are the steps after a trade is matched, in which it is confirmed and the shares and cash change hands. The release did not name the clearing firm or give a launch date.

Dennis Lee, NYSE's head of digital issuance, said in the release that the platform "will support equities listed on a range of blockchains," but that the ledger recording and settling trades has four needs: speed and reliability, exchange control over who takes part, predictable costs, and a large developer base. "Avalanche meets all those needs," he said.

NYSE will not settle trades on Avalanche's public network, John Nahas, Ava Labs' chief business officer, told CoinDesk. Instead, he said, the exchange will operate a dedicated chain based on Avalanche software and designed around the venue's regulatory requirements. Nahas said the decision came after both companies carried out in-depth technical, business, and ecosystem reviews. "This has been over a year in the making," he said.

The platform NYSE announced in January

NYSE, part of Intercontinental Exchange, announced on January 19, 2026 that it was developing a platform for trading and on-chain settlement of tokenized securities and would seek regulatory approvals. According to that release, the platform is meant to offer:

• trading around the clock, seven days a week, in US-listed stocks and exchange-traded funds (ETFs)
• instant settlement, orders sized in dollar amounts, and funding with stablecoins
• tokenized shares that are interchangeable with traditionally issued shares, with holders taking part in shareholder dividends and governance rights

Its design pairs NYSE's existing Pillar matching engine—the system that matches buy and sell orders—with blockchain-based systems for settlement and custody that can support several blockchains.

AVAX after the announcement

AVAX, Avalanche's native token, traded at $8.03 at 12:00 UTC on November 9, an hour before Ava Labs' release went out at 08:00 ET (13:00 UTC), according to CoinGecko hourly data. It reached $8.98 at 16:00 UTC, its highest hourly price between the start of November 9 and 07:00 UTC on November 10, and stood at $8.48 at 07:00 UTC on November 10, about 6% above the pre-release level.

Why it matters

Ava Labs said in its release that blockchain work in capital markets "has largely centered on individual products," citing tokenized funds, pilots, and one-off issuances. Market infrastructure is already changing, though: the Depository Trust Company, a DTCC subsidiary, launched its tokenization service on October 28. A December 2025 SEC no-action letter allows it to tokenize Russell 1000 stocks, ETFs that track major indices, and US Treasuries. If regulators approve the NYSE venue, Avalanche technology would sit under clearing and settlement for an exchange-affiliated trading venue. NYSE is not alone: its rival Nasdaq is also developing tokenized-stock infrastructure, CoinDesk reported.

What it could mean for traders

For stock traders, the practical changes NYSE has described are round-the-clock trading seven days a week, instant settlement, and the ability to fund trades with stablecoins. None of it is available on the NYSE venue yet. For crypto traders, the open question is what the deal means for the public Avalanche network. The venue's trades would settle on NYSE's own Avalanche-based chain, according to Nahas, and neither the release nor his reported comments say how that chain will connect to the wider network or what it would mean for AVAX. The next markers are regulatory approval for the venue, the name of its clearing firm, and a launch date.