AVAX Surges After Partnership With New York Stock Exchange
Avalanche token jumps 10% as network settles tokenized stocks for the NYSE
The AVAX token climbed 10% this Monday. The move followed the New York Stock Exchange's decision to select the Avalanche network to process settlements for a new trading platform focused on tokenized assets.
This initiative aims to allow investors to trade stocks outside of traditional U.S. market hours. Blockchain technology will be used to record operations and ensure transactions are completed around the clock.
Market data shows that AVAX achieved significant gains among the top 100 cryptocurrencies. The total value locked on the Avalanche network rose 4% over the last 24 hours to reach 633 million dollars.
Exchange executives noted that the network was chosen after a year of testing. The platform seeks to offer greater speed and cost predictability for the digital issuance of financial assets.
The project depends on regulatory approvals to begin operations. The system is expected to be available before the end of 2026 for stock trading across different distributed networks.
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