Ava Labs exec says NYSE deal marks end of blockchain’s ‘general purpose era’
A planned NYSE-affiliated tokenized securities platform will use Avalanche for clearing and settlement, reflecting financial institutions’ demand for blockchains with predictable costs, reliable performance and controlled participation. Ava Labs executive John Nahas says purpose-built networks better meet institutional needs than general-purpose chains, which may not adapt to existing compliance frameworks. The NYSE says its platform will support equities issued on multiple blockchains, while its settlement ledger must provide access controls and predictable costs. The exchange tested Avalanche for a year. Nahas expects companies currently objecting to third-party tokenized shares to eventually recognize the benefits of updated market infrastructure.
