Ava Labs announced on November 9 that its Avalanche technology would serve as the ledger for the company responsible for clearing and settling transactions on the future trading platform affiliated with the New York Stock Exchange (NYSE). The platform is designed to support tokenized stocks issued on multiple blockchains while using Avalanche as the shared infrastructure for recording and settling transactions. The project plans to use atomic settlement, in which the delivery of securities and the payment of funds occur together or the transaction does not complete. Avalanche is intended to operate continuously, 24 hours a day and seven days a week, subject to regulatory approvals. The NYSE cited speed, reliability, cost predictability and access controls as selection criteria.
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