Original report published by Decrypt on November 9, 2026, at 23:49:22 UTC+08:00.
The New York Stock Exchange’s planned tokenized securities platform is set to use Avalanche for a key part of its market infrastructure, according to Ava Labs. The company said Monday that Avalanche would provide the “core ledger technology” for the clearing firm behind an NYSE-affiliated digital trading venue.
The platform, previously disclosed by NYSE parent Intercontinental Exchange (ICE), is designed to support round-the-clock trading, clearing and settlement of tokenized securities. It remains subject to regulatory approval: the announcement describes planned infrastructure, not an operating market or demonstrated investor adoption.
A blockchain beneath the trading process
Tokenization represents traditional assets as blockchain-based tokens. Much of the activity to date has focused on individual products; this project would instead put blockchain technology into the clearing and settlement infrastructure that finalizes trades.
Dennis Lee, the NYSE’s head of digital issuance, said the exchange is “picking the right technology for each job.” While the planned platform would support equities listed across multiple blockchains, he said its trade-recording and settlement ledger needs speed, reliability and control over who can participate.
Ava Labs founder and CEO Emin Gün Sirer presented the arrangement as evidence that blockchains can support trading infrastructure as well as financial products. He cited Avalanche’s “24/7 atomic settlement” and predictable costs. Those are the company’s stated advantages, rather than evidence of the planned venue’s performance.
Infrastructure progress is not yet a demand metric
The announcement sits alongside several other tokenization initiatives. The NYSE separately selected Blockchain.com to reach crypto investors with tokenized stocks and ETFs. ICE and crypto exchange OKX are planning a 24/7 tokenized stock venue under an SEC exemption, while Morgan Stanley has moved to tokenize securities.
The OKX-ICE initiative has also encountered resistance. Decrypt reported that every Magnificent Seven company, including Apple and Meta, opted out of having its shares tokenized on that venue, describing 67 companies in all as opting out.
Demand remains a separate question from infrastructure readiness. An IMF study cited in the report found genuine demand for tokenized stocks, but also volatility and illiquidity. The Avalanche announcement provides no user counts, trading volumes or retention measures for the planned NYSE-affiliated platform. It therefore signals an infrastructure commitment, not a measured increase in sustained usage.
