Ava Labs president says NYSE spent a year testing Avalanche technology for tokenization plans

The New York Stock Exchange (NYSE) has spent the past year evaluating Avalanche blockchain technology for its potential integration into a new platform for tokenized U.S. equities and ETFs. Ava Labs President Charley Cooper confirmed a close working relationship with the exchange, noting that NYSE officials have rigorously tested the network's economics and technical capabilities. While the exchange has not officially selected Avalanche, ICE's Head of Strategic Initiatives Michael Blaugrund publicly acknowledged that the blockchain meets many of their operational requirements. This development follows the NYSE's January announcement regarding a proposed system that combines its proprietary Pillar matching engine with blockchain-based post-trade infrastructure. In August, ICE also partnered with tZERO to design the infrastructure for this tokenized securities initiative. The project aims to facilitate onchain settlement and custody, potentially supporting multiple blockchains to ensure flexibility. As the SEC recently released an innovation exemption allowing for certain onchain trading of tokenized stocks, the industry is closely watching how major exchanges like the NYSE will modernize traditional market structures.