Source publication time: November 10, 2026, at 01:41:02 UTC+08:00. The developments below reflect that report’s time frame.
Avalanche’s AVAX token rose as much as 10% on Monday after the New York Stock Exchange announced plans to use Avalanche to record and settle trades on a proposed round-the-clock tokenized-stock platform. The move made AVAX the strongest performer among the 100 largest cryptocurrencies by market capitalization, according to Cointelegraph.
The announcement identifies a planned infrastructure role for Avalanche. It does not establish that the trading platform is operational: The Wall Street Journal reported that it could launch before the end of 2026 if it receives regulatory approval.
What the NYSE selected Avalanche to do
According to Ava Labs, the NYSE’s planned platform would support digital versions of equities listed across different blockchains, with Avalanche providing the ledger used to record and settle trades.
Dennis Lee, head of digital issuance at the NYSE, said the exchange needed a ledger that was fast and reliable, allowed it to control participation, kept costs predictable and had a substantial developer community. He said Avalanche met those requirements. Those are the exchange’s stated selection criteria, rather than independently established performance findings in the report.
The NYSE first announced plans for the platform in January. In September, Ava Labs disclosed that the exchange had spent about a year testing Avalanche; the final selection was not confirmed until Monday.
John Nahas, chief business officer at Ava Labs, told Cointelegraph that initial conversations with the NYSE team began nearly a year earlier. He described the agreement as “an important step toward blockchain becoming foundational financial infrastructure”—an assessment from a company involved in the project, not evidence of completed deployment.
The token rally versus the delivery milestone
AVAX subsequently eased to $8.86, still more than 8% higher on the day, according to CoinGecko data as of 15:22 UTC. Its market capitalization was approximately $3.95 billion, with $439.7 million traded over the preceding day.
Separately, DeFiLlama put Avalanche’s total value locked at $633 million, up 4% over 24 hours.
These figures document the market response and the network’s reported DeFi activity at that point. They do not establish how much activity the proposed NYSE platform would generate or what that activity would mean for AVAX’s valuation. The concrete milestone was the technology selection; launch remained conditional.
A broader tokenization push, with different stages of delivery
The NYSE proposal sits within a wider effort to extend stock trading hours and use blockchain infrastructure for securities settlement. The source contrasted the proposal with regular US stock-market hours of 9:30 a.m. to 4 p.m. EST on weekdays and settlement often taking at least one business day.
Other initiatives cited in the report were at different stages:
- Nasdaq and Payward: In September, Nasdaq announced plans to invest $100 million in Kraken parent Payward to launch tokenized stocks, with an expected launch in the second quarter of 2027.
- DTCC: In October, the Depository Trust & Clearing Corporation launched a service allowing financial firms to turn traditional securities into digital tokens. CEO Frank La Salla described it as bringing tokenized securities into a regulated framework backed by established market infrastructure.
- Progmat: In July, the Japanese financial technology company said it had moved more than 452 billion yen in digital securities onto a dedicated Avalanche blockchain.
- Aave Labs: In September, it announced plans for an Avalanche lending service that would allow financial firms to borrow Tether’s USAT stablecoin against tokenized assets.
The distinction matters: an announced investment, a proposed lending service, a reported asset migration and a launched tokenization service are not interchangeable evidence of adoption. For the NYSE project, Avalanche’s selection was confirmed, while regulatory approval and the platform’s launch remained outstanding.