NYSE spent a year testing Avalanche tech, Ava Labs president says
NYSE tested Avalanche for a year, says Ava Labs president
The New York Stock Exchange has spent the past year testing Avalanche technology and working with Ava Labs on how it could fit into the exchange's systems, according to Ava Labs President Charley Cooper.
Cooper spoke to The Block at the Avalanche Summit in New York on Thursday. He said the NYSE pressed Ava Labs on the project's economics and technology, wanting to know whether the company understood the exchange's broader business needs.
Close relationship, no selection yet
Cooper said the two sides developed a "close working relationship" but did not say the exchange had chosen Avalanche. "I leave it to the NYSE guys to talk publicly about where they are in the whole process," he said.
Earlier, ICE's Head of Strategic Initiatives Michael Blaugrund joined Cooper onstage and said the firm was "very engaged" with the Avalanche team as it evaluates blockchain platforms. "Avalanche checks a lot of those boxes for us," Blaugrund said.
NYSE's tokenized-securities plans
The NYSE announced in January that it was developing a platform for trading and onchain settlement of tokenized U.S. equities and exchange-traded funds, subject to regulatory approval. The system combines the NYSE's Pillar matching engine with blockchain-based post-trade infrastructure and is intended to support multiple blockchains for settlement and custody.
In August, ICE agreed to work with tZERO on infrastructure for tokenized securities markets, naming tZERO as a design partner for the planned NYSE-affiliated platform. The exchange operator has not yet named a blockchain for the platform.
What's confirmed
The NYSE has spent a year testing Avalanche technology, according to Ava Labs' president. ICE's head of strategic initiatives said the firm is evaluating Avalanche and that it "checks a lot of boxes." No final decision has been announced.
What's still unclear
Whether the NYSE will select Avalanche for its tokenized-securities platform remains unconfirmed. The exchange operator has not named a blockchain for the platform.
What happens next
Cooper expects some venues to begin offering 24-hour weekday trading within a year, though he said he does not know whether that will include the largest exchanges like the LSE, NYSE, or CME. He noted that the SEC released an innovation exemption on Thursday that now allows certain onchain trading of tokenized stocks.
Why it matters
If the NYSE adopts Avalanche, it could be a major step for tokenized securities — digital versions of traditional assets like stocks and ETFs. The exchange's choice will signal which blockchain technology is seen as suitable for mainstream financial markets.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.