According to NYSE, the exchange selected Avalanche (AVAX) on Tuesday to provide blockchain technology powering settlement for its new tokenized securities platform. AVAX reached $8.60, gaining 5.2% over 24 hours and touching $8.99 as part of a 10% rally that began Monday. The token's 24-hour trading volume surged to $537 million, up 448% from the previous day.

Avalanche will provide core ledger infrastructure for NYSE's digital alternative trading system (ATS), which aims to enable 24-hour trading and settlement of tokenized US stocks and exchange-traded funds. The partnership positions Avalanche as a key player in Wall Street's institutional blockchain infrastructure as Nasdaq and the Depository Trust & Clearing Corporation also advance tokenization initiatives.

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