Avalanche’s AVAX leads crypto gains following NYSE tokenization deal
Summary
AVAX rose as much as 10% after the New York Stock Exchange selected Avalanche to record and settle trades on a planned platform for round-the-clock trading of tokenized stocks. The platform is intended to support equities issued across multiple blockchains, with Avalanche chosen for speed, reliability, permission controls and predictable costs. It could launch before the end of 2026, subject to regulatory approval. The decision follows a year of testing and reflects wider institutional interest in tokenized securities, including initiatives by Nasdaq and DTCC. AVAX later traded at $8.86, up more than 8% on the day.
