Ava Labs president confirms NYSE spent a year testing Avalanche technology for tokenization gears up
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Ava Labs President Charley Cooper said the New York Stock Exchange has spent the past year testing Avalanche (AVAX) technology and working with the blockchain company on how it could fit into the exchange's systems.
Key facts
- Cooper told The Block's Gareth Jenkinson during an interview at Avalanche Summit in New York on Thursday that NYSE had pressed Ava Labs on the project's economics as well as its technology, seeking
- In August, ICE agreed to work with tZERO on infrastructure for tokenized securities markets, naming tZERO as a design partner for the planned NYSE-affiliated platform
- Cooper expects some venues to begin offering 24-hour weekday trading within a year
- Ava Labs President Charley Cooper said the New York Stock Exchange has spent the past year testing Avalanche (AVAX) technology and working with the blockchain company on how it could fit
Summary
Cooper told The Block's Gareth Jenkinson during an interview at Avalanche Summit in New York on Thursday that NYSE had pressed Ava Labs on the project's economics as well as its technology, seeking to establish whether the company understood the exchange's wider business needs. Cooper said the two sides had developed a "close working relationship," but stopped short of saying the exchange had chosen Avalanche. ICE's Head of Strategic Initiatives Michael Blaugrund had earlier joined Cooper onstage at the summit, where they discussed the exchange operator's onchain plans. The NYSE announced in January that it was developing a platform for the trading and onchain settlement of tokenized U.S. equities and exchange-traded funds, subject to regulatory approval.