NYSE Picks Avalanche...

NYSE Picks Avalanche for Settlement in Planned 24/7 Tokenised Stock Market

By José Oramas November 10, 2026 In Avalanche, NYSE, Tokenisation

NYSE chief product officer Kevin Tyrrell told The Wall Street Journal the exchange chose Avalanche after testing multiple blockchain providers.
Avalanche will supply the core ledger for the venue’s clearing firm, while the platform will support shares listed on a range of blockchains.
NYSE owner Intercontinental Exchange is also pursuing tokenised trading through NYSE American and OKXICE, its joint venture with OKX.

NYSE has chosen Avalanche to settle trades on its planned tokenised stock market, chief product officer Kevin Tyrrell told The Wall Street Journal.

Tyrrell cited the network’s speed and throughput, and called it a controlled network that meets regulatory requirements. The NYSE is aiming to open the venue in the fourth quarter.

Ava Labs, the company behind Avalanche, said the blockchain will provide the ledger technology used by the platform’s clearing firm, which will be an alternative trading system run by a NYSE affiliate.

“Subject to regulatory approvals, the platform is designed to support 24/7 trading, clearing and settlement for its subscribers,” NYSE wrote on X the same day.

Pillar Keeps the Order Book

Orders will still be matched on NYSE’s existing technology, according to the Journal. NYSE’s January announcement named Pillar, its matching engine, as the trading core. That plan put the post-trade work on blockchain-based systems.

The same plan allowed for several chains to handle settlement and custody. On Monday, NYSE head of digital issuance Dennis Lee said the venue will support shares listed on a range of blockchains, with trades recorded and settled on one ledger.

The January release also said distribution would run through non-discriminatory access for all qualified broker-dealers.

We are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust with state-of-the-art technology.

NYSE Group President Lynn Martin

ICE’s Other Tokenised Routes

Intercontinental Exchange (ICE), which owns NYSE, also runs NYSE American. That exchange filed a rule change on 1 May to trade tokenised Russell 1000 stocks and index exchange-traded funds on its existing order book.

Those trades would settle through a tokenisation pilot run by the Depository Trust Company (DTC). Trading under the rule starts once DTC’s systems are ready. The SEC approved a similar Nasdaq rule on 18 March.

ICE also owns half of OKXICE, a joint venture with crypto exchange OKX. OKXICE plans to trade tokenised US stocks through permissioned Uniswap v4 pools on X Layer, OKX’s layer-2 network. It notified the SEC under the agency’s Innovation Exemption for tokenised stock venues, issued on 17 September.

That exemption lets companies object to their shares trading on such venues. By 23 October, 22 issuers had objected to trading on OKXICE, including Microsoft, Alphabet and Goldman Sachs.

DTC’s parent company, DTCC, launched its blockchain tokenisation service on 28 October. It runs on the Canton Network and on DTCC’s own private Besu blockchain.