NYSE Eyes 24/7 Trading on Avalanche
ICE executive Michael Blaugrund says Avalanche checks key boxes as NYSE evaluates blockchain platforms for an on-chain Alternative Trading System that could support round-the-clock securities trading.
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Avalanche Emerges as a Contender for NYSE's On-Chain Trading Platform
Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is actively evaluating Avalanche (@avax) as the blockchain infrastructure for a 24/7 on-chain trading platform. The disclosure came from Michael Blaugrund of ICE and NYSE, who confirmed the company's engagement with the Avalanche team as part of its review process for an Alternative Trading System (ATS).
"As we've evaluated different platforms, Avalanche checks a lot of those boxes for us, so we're very engaged with the team," Blaugrund said.
ICE first disclosed the ATS plan earlier this year, intending to combine the NYSE Pillar matching engine with on-chain settlement to support 24/7 trading of tokenized stocks against stablecoins. At the time, no specific blockchain was named, only that a private permissioned chain would be used.
What the Platform Could Look Like, and What Still Needs to Happen
The new venue is designed to use private blockchain networks to enable instant settlement, dollar-denominated orders, and stablecoin-based funding, while preserving traditional shareholder rights such as dividends and governance.
An ATS is a SEC-regulated trading venue that matches buyers and sellers outside of traditional exchanges. ICE building one on a blockchain would allow it to offer securities trading around the clock, a capability traditional market infrastructure does not support.
The initiative is part of ICE's broader digital strategy, including work with banks like BNY and Citi on tokenized deposits and 24/7 clearing, and comes as Nasdaq pursues its own near round-the-clock trading offerings. Separately, ICE has also agreed to invest in tZERO as part of a collaboration to support its planned tokenized securities platform.
Investors should treat the Avalanche news with appropriate caution. Blaugrund's comments reflect an evaluation rather than a selection, and the two parties have not announced any cooperation agreement. The platform still needs Securities and Exchange Commission approval before it can go live.
Sources:
CoinDesk: NYSE to introduce 24/7 blockchain stock trading platform
ICE: Inside NYSE's 24/7 Tokenized Securities Platform
PANews: ICE Executive Confirms Avalanche Evaluation for NYSE On-Chain ATS
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Soumen DattaSoumen has been a crypto researcher since 2020 and holds a master’s in Physics. His writing and research has been published by publications such as CryptoSlate and DailyCoin, as well as BSCN. His areas of focus include Bitcoin, DeFi, and high-potential altcoins like Ethereum, Solana, XRP, and Chainlink. He combines analytical depth with journalistic clarity to deliver insights for both newcomers and seasoned crypto readers.