The New York Stock Exchange (NYSE) has spent roughly a year testing Avalanche technology as it explores blockchain infrastructure for a planned tokenized securities platform, according to Ava Labs President Charley Cooper.
Speaking at the Avalanche Summit in New York, Cooper said NYSE has been evaluating both the technology and economics of Avalanche while examining how the blockchain could integrate with its existing systems. He said the discussions have developed into a close working relationship between the two companies.
However, Cooper did not confirm that NYSE has selected Avalanche for the project. He said the exchange would be responsible for publicly discussing where it stands in the evaluation process.
Intercontinental Exchange (ICE), the parent company of NYSE, is also evaluating Avalanche as part of its broader blockchain strategy. ICE Head of Strategic Initiatives Michael Blaugrund said the company remains closely engaged with Ava Labs and that Avalanche meets several of the requirements being considered for the project.
NYSE announced plans earlier this year to develop infrastructure for trading and settling tokenized U.S. stocks and exchange-traded funds onchain, subject to regulatory approval. The proposed system would combine NYSE’s Pillar matching engine with blockchain-based post-trade infrastructure.
The planned platform is designed to support multiple blockchain networks for settlement and custody rather than relying on a single blockchain. This means Avalanche’s ongoing testing does not necessarily indicate that it will become the exclusive technology behind the NYSE project.
ICE has also been working with other companies as it develops the infrastructure. In August, the exchange operator announced an agreement with tZERO related to technology for tokenized securities markets. NYSE has also previously partnered with Securitize as part of its digital securities plans.
The development comes as traditional financial institutions increasingly explore blockchain-based settlement and tokenization. NYSE’s proposed platform is intended to support digital versions of existing securities while connecting blockchain infrastructure with regulated financial market systems.
Avalanche has been expanding its focus on institutional and tokenized assets, including projects involving financial institutions in different markets. Its potential involvement with NYSE would place the network alongside other blockchain platforms being evaluated for the growing tokenized securities sector.
For now, Avalanche remains one of the technologies under evaluation. Neither NYSE nor ICE has publicly confirmed a final blockchain selection for the planned tokenized securities platform.
