Mentioned:
The New York Stock Exchange wants in on the opportunity in tokenized stocks. And now, they’re partnering up with Avalanche.
What’s happening:
- The New York Stock Exchange has selected Avalanche as the sole settlement ledger for their planned tokenized stock platform
Why it matters:
- The New York Stock Exchange is aiming to operate their tokenized stock platform 24/7 and enable instant settlement on trades pending regulatory approval
Going deeper:
- Avalanche will serve as the ledger for clearing and settlement as well as being the official record of all trades for the New York Stock Exchange’s planned tokenized stock platform
- Parent company of the New York Stock Exchange Intercontinental Exchange (NYSE: ICE) has been aggressively making new bets on crypto companies, including notably taking an equity stake in Hyperliquid ecosystem company trade[XYZ] alongside of Stanley Druckenmiller
The intrigue:
- Securitize (NYSE: SECZ) and the New York Stock Exchange also previously partnered to tokenize securities directly on the blockchain
