NYSE tests Avalanche to bring $40T US stocks onchain
The NYSE is working to bring $40 trillion in U.S. stocks and ETFs onchain, per Coin Bureau, and the exchange has spent roughly a year testing Avalanche for the rails. The work centers on the exchange's in-development 24/7 ATS (Alternative Trading System).
Michael Blaugrund of parent company Intercontinental Exchange said Avalanche "checks a lot of those boxes" for round-the-clock trading. No formal partnership has been announced, but the comments and testing signal the exchange is treating Avalanche as a leading candidate to underpin 24/7 tokenized trading of U.S. equities. CoinMarketCap amplified the remarks as a headline development.
Sources
- RT @coinbureau: 🚨HUGE: The NYSE is working to bring $40 TRILLION in US stocks and ETFs ONCHAIN. The exchange has spent a year testing Aval…x.com ↗
- RT @CoinMarketCap: LATEST: 🏦 NYSE parent ICE is evaluating Avalanche for its planned 24/7 on-chain trading platform, with ICE VP Michael Bl…x.com ↗
- Michael Blaugrund of NYSE touches on why Avalanche technology could be the solution to 24/7 trading via their new ATS https://t.co/cgqLdYlx8yx.com ↗
- BREAKING: NYSE plans to bring 24/7 trading on chain with their in-development ATS platform “As we’ve evaluated different platforms, Avalanche checks a lot of those boxes for us, so we’re very engaged with the team” - Michael Blaugrund of Intercontinental Exchange/NYSE https://t.co/Ml9YSZtoCSx.com ↗
- RT @VanHoVibes: BREAKING: NYSE is saying they’re bringing their offerings onchain 😨🔺 https://t.co/XzOS7PepXix.com ↗
