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ECONOMY • UNITED STATES

NYSE plans to use Avalanche for settlement on planned 24/7 trading platform

1 SOURCES UNITED STATESNEW
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The New York Stock Exchange said it plans to settle tokenized stocks exclusively on the Avalanche blockchain on an upcoming 24/7 trading platform, according to The Wall Street Journal. The article does not provide a launch date or further operating details.

HOW THIS BRIEF WAS MADE 1 outlet: 1 national. Automated sourcing and summaries by the BLUF engine. Corrections

Why it matters

The plan could affect how securities trades are settled and create a role for blockchain technology in U.S. market infrastructure. Its practical effect on investors and markets is unclear until the platform’s design and launch plans are known.

What happens next

The NYSE platform is described as upcoming. The article does not say when it will launch or provide details on how the settlement system will work.

The platform’s launch date

Details on how tokenized stocks will be traded and settled