Economy: Avalanche positions itself on the settlement of tokenized securities on Wall Street
Avalanche will provide the settlement ledger for a future tokenized equity platform on Wall Street, designed to operate 24 hours a day.
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Avalanche's role begins after a buyer and seller meet. Once the order is executed, clearing establishes what each must pay or deliver. Settlement-delivery then occurs, when the buyer receives the securities and the seller receives the funds. Ava Labs will provide its technology to the company responsible for these operations.
The project provides for an atomic regulation, which links the two parts of the exchange. Delivery of the title and payment are completed together, or the transaction is not completed. The platform aims to process these operations continuously for its subscribers. The actual deadline will also depend on the rules of the platform and the availability of securities and funds.
According to Dennis Lee, head of digital issuance at the NYSE, the platform must be able to accommodate tokenized shares on several blockchains. The register which records and settles transactions will rely on Avalanche. The choice therefore concerns the common infrastructure used after the negotiation, while the securities may come from different networks.
Dennis Lee cites speed, reliability, cost predictability and the ability to control who can participate as selection criteria. The press release describes a dedicated infrastructure. The technical details of the register and the commissioning schedule remain to be specified. Ava Labs press release
The choice of Avalanche specifies how the platform intends to process its transactions. The challenge is to make titles from several networks compatible with common regulations, continuously accessible to authorized participants.
An editorial article. Le Journal du Coin, the first French-speaking news media on cryptocurrency, Bitcoin, and blockchain protocols.
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- Journal du Coin9 Nov, 16:30
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