Originally published by Cointelegraph on November 10, 2026, at 01:41:02 UTC+8.
The New York Stock Exchange selected Avalanche to record and settle trades on its planned round-the-clock platform for tokenized stocks, according to the November 10 report. Avalanche’s AVAX token rose as much as 10% on Monday, leading gains among the 100 largest cryptocurrencies by market capitalization.
AVAX later eased to $8.86, still up more than 8% on the day, according to CoinGecko data cited as of 3:22 p.m. UTC. Its market capitalization stood at approximately $3.95 billion, with $439.7 million in trading volume over the preceding day. Separately, DeFiLlama data put Avalanche’s total value locked at $633 million, up 4% over 24 hours.
Avalanche’s role in the NYSE platform
According to Ava Labs, the planned platform will support digital versions of stocks issued on different blockchains, while Avalanche will provide the ledger used to record and settle trades.
Dennis Lee, NYSE’s head of digital issuance, said the exchange needed a ledger that was fast and reliable, allowed control over participation, offered predictable costs and had a substantial developer community.
“Avalanche meets all those needs,” Lee said in the announcement.
NYSE first announced plans for the platform in January. In September, Ava Labs disclosed that the exchange had spent about a year testing Avalanche, but the final selection was not confirmed until the Monday covered by the report.
The platform could launch before the end of 2026 if it receives regulatory approval, according to The Wall Street Journal. That approval remained a condition, rather than a confirmed outcome.
John Nahas, chief business officer at Ava Labs, told Cointelegraph that initial conversations with the NYSE team began nearly a year earlier. He described the project as “an important step toward blockchain becoming foundational financial infrastructure.”
A broader push into tokenized securities
The project is part of a wider effort by financial firms to extend stock trading beyond regular market hours and accelerate settlement. The report noted that traditional US stock markets typically operate from 9:30 a.m. to 4 p.m. Eastern time on weekdays, with trades often taking at least one business day to settle.
Other initiatives cited in the report included:
- Nasdaq and Payward: In September, Nasdaq announced plans to invest $100 million in Kraken parent company Payward to launch tokenized stocks, with the project expected to launch in the second quarter of 2027.
- DTCC: In October, the Depository Trust & Clearing Corporation launched a service allowing financial firms to turn traditional securities into digital tokens. CEO Frank La Salla described it as the culmination of years of work to bring tokenized securities into a regulated framework supported by established market infrastructure.
- Progmat: In July, the Japanese financial technology company said it had moved more than 452 billion yen in digital securities onto a dedicated Avalanche blockchain.
- Aave Labs: In September, the company announced plans for an Avalanche lending service that would allow financial firms to borrow Tether’s USAT stablecoin against tokenized assets.
For the NYSE project, the reported selection established Avalanche’s intended settlement role, but the launch timetable remained subject to regulatory approval.