The New York Stock Exchange affiliate building a digital ATS for tokenized equities has chosen its core ledger: Avalanche will provide the clearing and settlement technology to the platform's clearing firm.

Subject to regulatory approval, the platform is designed for 24/7 trading, clearing and onchain settlement for its subscribers. NYSE says it will support equities listed on a range of blockchains, while Avalanche runs the permissioned ledger that records and settles trades.

Avalanche moves from single tokenized products to market infrastructure: the ledger behind a venue affiliated with the largest US stock exchange.

The launch date has not been disclosed, and the 24/7 model still depends on approvals from US regulators.