The NYSE selected Avalanche as the core ledger to settle every trade on a future tokenized stock platform affiliated with the exchange. The NYSE’s Pillar engine will handle trading, while Avalanche will clear and settle transactions, with the aim of enabling round-the-clock trading, instant settlement, and stablecoin funding, subject to regulatory approval. The announcement sent AVAX up 12.7%, from $8.10 to $8.83, after reaching nearly $8.93, amid record third-quarter results for Avalanche. On Avalanche, Pharaoh’s DEX volume doubled to $5.33 billion, spending on Avalanche-linked cards rose 74%, and on-chain credit reached $37.4 million.
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