Cryptonews reports that NYSE has selected Avalanche as the underlying ledger technology for a clearing company on its new tokenized securities platform. The project is designed for round-the-clock trading and settlement, but its launch depends on regulatory approval.
NYSE will retain its Pillar system for processing orders. In the future, the platform could allow subscribers to trade tokenized shares in U.S. companies and exchange-traded funds outside regular trading hours.
Following the announcement, AVAX reached $8.60, gaining 5.2% in 24 hours. Trading volume rose nearly 448% to $537 million.