NYSE Picks Avalanche ($AVAX) to Settle Tokenized Stocks on Its 24/7 Platform

Published November 10, 2026, 12:15 PM PKT. Based on the Ava Labs press release of November 9, 2026 and reporting from CoinDesk, Unchained and The Crypto Guide, with CoinGecko market data accessed November 10, 2026.

The New York Stock Exchange picked Avalanche to provide the core settlement ledger for its planned tokenized securities platform, Ava Labs announced on November 9, 2026. The NYSE-affiliated trading venue is designed for round-the-clock trading, clearing and atomic settlement of tokenized stocks, subject to regulatory approval. Avalanche ($AVAX) rose about 8% on the news and held near $8.49 the next morning, while Bitcoin ($BTC) stayed under pressure near $75,000.

The selection puts a public blockchain's technology under the clearing and settlement layer of the world's largest stock exchange, the machinery that finalizes trades, rather than using a blockchain only to wrap a single product in a token. It is the clearest validation yet for public blockchain infrastructure at a major United States exchange, and it caps about a year of testing by the NYSE.

What the NYSE is building

An affiliate of the NYSE is developing a digital alternative trading system, known as an ATS, for the trading and onchain settlement of tokenized securities, according to the Ava Labs release. Avalanche will provide the core ledger technology to the platform's clearing firm, the company that records and settles the trades. The release does not name the clearing firm.

The platform is designed to allow 24/7 trading, clearing and settlement for its subscribers, the release said. It will pair the NYSE's Pillar trading engine, which matches trades today, with blockchain-based clearing, settlement and custody, and it aims to offer instant settlement and stablecoin-based funding, according to CoinDesk. The venue is designed to support stocks issued on a range of blockchain networks, with all of them connecting to the NYSE's custom Avalanche chain to record and settle trades.

Nothing launches without regulatory sign-off. Every element of the announcement is qualified by the words subject to applicable regulatory approvals, and the release gives no launch date. The Wall Street Journal reported that the NYSE is targeting a fourth-quarter launch, pending regulatory approval, according to The Crypto Guide.

A custom chain, not the public network

The NYSE will operate its own custom blockchain built on Avalanche technology, tailored to the platform's regulatory needs, rather than settling trades on Avalanche's public network, John Nahas, chief business officer at Ava Labs, told CoinDesk in an interview. The customized infrastructure will include controls over who can participate in the network.

The selection was over a year in the making, Nahas said, adding that the exchange and Ava Labs went through extensive technical, business and ecosystem reviews before the choice. Ava Labs president Charley Cooper said in September that the NYSE had spent roughly a year testing Avalanche technology, covering onchain settlement for tokenized United States equities and exchange-traded funds, and evaluating both the network's technical performance and its underlying economics.

Dennis Lee, head of digital issuance at the NYSE, said the exchange needed a settlement ledger that could process transactions fast, keep costs predictable and control who could participate. "At the NYSE, we're looking at how blockchain technology can expand what we offer in equities, and we're picking the right technology for each job," Lee said in a statement. "Avalanche meets all those needs."

Emin Gün Sirer, founder and chief executive of Ava Labs, said in the release that the platform's round-the-clock atomic settlement needs would be met with dedicated infrastructure offering predictable performance and costs, along with controls to meet regulatory requirements.

AVAX jumped 8% while Bitcoin ($BTC) slipped

Avalanche ($AVAX) traded at $8.95 on November 9, up 8.6% over 24 hours, with a market value near $4.0 billion and about $472 million of trading volume, according to CoinGecko data cited by 0xzx. The token ranked 26th by market value. The gain came on a day when Bitcoin ($BTC) slipped 0.7%.

The move held into the next morning. CoinGecko showed Avalanche ($AVAX) at $8.49 on November 10, up 7.9% over 24 hours and 2.3% over seven days, with a market value of $3.79 billion and 24-hour volume of $552 million. The token remains far below its all-time high of $144.96, set on November 21, 2021, according to CoinGecko.

The rally also stood out against the wider market. United States spot Bitcoin ($BTC) exchange-traded funds lost $1.28 billion in the week ended November 6, their worst week since late June, and the market was waiting on the October consumer price index report due later on November 10. Avalanche ($AVAX) was one of the few large tokens trading higher while the rest of the market waited.

Wall Street's tokenization race

The Avalanche deal is the latest piece of the NYSE's tokenized securities plan, and it lands as Wall Street firms race to build their own blockchain infrastructure. Last week the exchange expanded its network of transfer agents to six firms, adding Broadridge, Computershare, Equiniti and Superstate to existing partners Securitize and tZERO, the firms that keep shareholder records for most of the S&P 500.

Rival exchange Nasdaq is also developing tokenized stock infrastructure, including a partnership with the parent company of crypto exchange Kraken to distribute blockchain-based shares globally, according to CoinDesk. The Depository Trust and Clearing Corporation, which sits at the center of United States securities custody and settlement, launched a tokenization service last month using its private Besu blockchain and the Canton Network, focused on custody and transfers rather than operating a trading venue.

A separate approach is emerging through the Securities and Exchange Commission's innovation exemption, which opens a path for select blockchain-based venues to trade tokenized stocks. One such project involves crypto exchange OKX and Intercontinental Exchange, the NYSE's parent company, but that venue is separate from the NYSE-affiliated tokenized stock platform, and 67 companies have now objected to having their stock tokenized without permission, as MABOnChain reported on November 6.

What happens next

Three checkpoints decide whether the announcement becomes a working market. First, regulatory approval of the ATS and the conditions attached to it, since the announcement is explicit that nothing launches without it. Second, the naming of the clearing firm that will run the Avalanche ledger, which the release does not identify. Third, a firm launch date, which neither the release nor the NYSE has given beyond the reported fourth-quarter target.

The selection itself is now public and named, and the testing phase is over. What remains is the regulatory path, and the NYSE's history with tokenized stocks suggests it will move in steps: the venue was first disclosed in January 2026, the transfer agents were lined up through November 2, and the settlement blockchain was named on November 9. The next disclosure to watch is any filing or approval that turns the planned venue into a live one.

Sources

• Ava Labs via PR Newswire, Avalanche to Serve as Core Ledger Technology for Clearing and Settlement of NYSE-Affiliated Upcoming Tokenized Securities Platform, published November 9, 2026 (primary source: Avalanche will provide the core ledger technology to the clearing firm of the NYSE-affiliated upcoming digital ATS; platform designed for 24/7 trading, clearing and settlement, subject to applicable regulatory approvals; no launch date given; Emin Gün Sirer quote on dedicated infrastructure with predictable performance and costs and controls for regulatory requirements)
• CoinDesk, NYSE taps Avalanche for tokenized stock settlement; AVAX price gains, published November 9, 2026 (secondary reporting: NYSE will operate its own custom blockchain built on Avalanche technology rather than using Avalanche's public network, per John Nahas interview; selection over a year in the making; Dennis Lee quote; platform pairs Pillar trading engine with blockchain clearing, settlement and custody, with 24/7 trading, instant settlement and stablecoin-based funding; transfer agents expanded to six last week; Nasdaq and Kraken partnership; DTCC tokenization service; OKX and ICE venue separate)
• Unchained, Avalanche Lands a Role in NYSE's Planned Tokenized Stock Venue, Ava Labs Says, published November 9, 2026 (secondary reporting: clearing firm not named in the release; venue is an ATS built by an NYSE affiliate; no launch date given; Sirer quote)
• The Crypto Guide, NYSE Tokenized Stocks: Broadridge, Computershare Join, Explained, updated November 9, 2026 (secondary reporting: Wall Street Journal reports the NYSE said it will settle tokenized stocks on the platform only on Avalanche, targeting a fourth-quarter launch pending regulatory approval; transfer agents Broadridge, Computershare, Equiniti and Superstate added November 2, joining Securitize and tZERO)
• 0xzx, NYSE Picks Avalanche to Settle Tokenized Stocks in 24/7 Platform, published November 9, 2026 (secondary reporting: Avalanche ($AVAX) traded at $8.95 on November 9, up 8.59% over 24 hours on about $472 million of volume, with a market value near $4.0 billion and a rank of 26 by market value; Bitcoin ($BTC) slipped 0.7% that day)
• CoinGecko market data for Avalanche, api.coingecko.com/api/v3/coins/avalanche-2, accessed November 10, 2026 (primary market data: $8.49, up 7.9% over 24 hours and 2.3% over 7 days; market value $3.79 billion; 24-hour volume $552 million; rank 26; all-time high $144.96 on November 21, 2021)

This article is news reporting and is not investment advice.