The ledger recording and settling trades—not necessarily the blockchain hosting each stock token—is the key role assigned to Avalanche in the New York Stock Exchange’s planned digital trading platform, according to Cointelegraph’s report.
Original publication: November 10, 2026, at 01:41:02 UTC+08:00. The developments below reflect that reporting window.
A shared trade ledger for stocks on multiple blockchains
Ava Labs said the NYSE selected Avalanche to record stock trades and help complete transactions on a platform intended to support round-the-clock trading in tokenized equities. The platform would support digital versions of stocks listed on different blockchains, while using Avalanche for its trade-recording and settlement ledger.
That distinction matters when reading the infrastructure announcement: support for equities across several blockchains does not mean that every stock token would be issued on Avalanche.
Dennis Lee, the NYSE’s head of digital issuance, said the exchange wanted a ledger that was fast and reliable, allowed it to control participation, offered predictable costs and had a substantial developer community. He said Avalanche met those requirements. The ability to control participation is an explicit part of the exchange’s stated design criteria; the announcement should not be read as a promise of unrestricted access.
Selection followed testing; launch remained conditional
The NYSE first announced plans for the platform in January. In September, Ava Labs disclosed that the exchange had spent about a year testing Avalanche. The final selection was not confirmed until Monday, according to the report.
The platform could launch before the end of 2026 if it receives regulatory approval, The Wall Street Journal reported. Selection of the ledger infrastructure was therefore not confirmation that the trading service was already operating.
John Nahas, Ava Labs’ chief business officer, told Cointelegraph that initial conversations with the NYSE team had begun nearly a year earlier. He characterized the project as a step toward blockchain becoming foundational financial infrastructure.
The proposed service would extend beyond the usual US stock-market schedule of 9:30 a.m. to 4 p.m. EST on weekdays. The source noted that traditional stock trades often take at least one business day to settle, but did not provide a measured settlement time for the planned platform.
AVAX market data at the reporting snapshot
Cointelegraph reported that AVAX rose as much as 10% on Monday, leading gains among the 100 largest cryptocurrencies by market capitalization. It later eased to $8.86, still up more than 8% for the day, according to CoinGecko data as of 3:22 p.m. UTC.
The report also cited:
- Approximately $3.95 billion in AVAX market capitalization.
- $439.7 million in trading volume over the preceding day.
- $633 million in Avalanche total value locked, up 4% over 24 hours, according to DeFiLlama.
These figures describe token-market activity and total value locked during the reporting window. They are not measurements of NYSE trades processed on Avalanche.
Other tokenization initiatives in the report
The NYSE plan appeared alongside several other financial-infrastructure projects:
- Nasdaq and Payward: In September, Nasdaq announced plans to invest $100 million in Kraken parent company Payward to launch tokenized stocks, with an expected launch in the second quarter of 2027.
- DTCC: In October, the Depository Trust & Clearing Corporation launched a service allowing financial firms to turn traditional securities into digital tokens. CEO Frank La Salla described it as bringing tokenized securities into a regulated framework supported by established market infrastructure.
- Progmat: In July, the Japanese financial technology company said it had moved more than 452 billion yen worth of digital securities onto a dedicated Avalanche blockchain.
- Aave Labs: In September, it announced plans for an Avalanche lending service through which financial firms could borrow Tether’s USAT stablecoin against tokenized assets.
These initiatives were at different stages: the report described completed service launches and asset migrations alongside investments and proposed services. They should not be treated as equivalent evidence of live trading or settlement activity.