Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, is evaluating Avalanche as potential blockchain infrastructure for a planned 24/7 trading platform for tokenized securities, marking a significant step in the integration of blockchain technology with traditional financial-market infrastructure.

The evaluation was disclosed by Michael Blaugrund, ICE's vice president of strategic initiatives, as the exchange operator continues developing an on-chain trading venue. ICE has not finalized its choice of blockchain, and no formal agreement with Avalanche has been announced. Reports indicate that the two sides are working closely as ICE assesses whether Avalanche can satisfy the platform's technical and operational requirements.

Platform Targets Round-the-Clock Tokenized Trading

ICE is developing a digital trading venue intended to support 24/7 trading and on-chain settlement of tokenized U.S. equities and exchange-traded funds, with transactions potentially funded and settled using stablecoins — digital tokens designed to maintain a stable value against fiat currencies such as the U.S. dollar. The round-the-clock model contrasts with conventional U.S. equity markets, which operate during fixed weekday sessions and remain closed on weekends and holidays.

The NYSE announced the development of the platform in January 2026. Its planned architecture combines the exchange's Pillar matching technology with blockchain-based post-trade infrastructure. The system is designed to support instant settlement, fractional trading, and transactions denominated in dollar amounts rather than being limited to conventional share quantities. Because U.S. equities currently settle on a T+1 cycle — the business day after a trade executes — moving settlement on-chain would represent a structural change in post-trade processing rather than a simple extension of trading hours.

The platform is also intended to support tokenized versions of traditionally issued securities as well as securities issued natively on a blockchain, subject to regulatory approvals. ICE has said the proposed venue would preserve established shareholder rights, including dividends and governance participation, while providing access through qualified broker-dealers.

ICE has been evaluating blockchain infrastructure as part of this development, with Avalanche emerging as one of the networks under consideration. Blaugrund has indicated that Avalanche satisfies several of the requirements ICE is examining, including performance and interoperability, although the evaluation remains ongoing.

Avalanche Under Institutional Evaluation

The consideration is notable because it could place a public blockchain network within infrastructure being developed for one of the world's best-known equity markets. However, the evaluation should not be interpreted as a completed partnership or a final technology selection.

Avalanche is a layer-1 blockchain network developed by Ava Labs. Ava Labs President Charley Cooper has said the NYSE has spent roughly a year testing Avalanche technology and examining how it could integrate with the exchange's systems. According to reports, the discussions have covered both technological and economic considerations.

The potential use of Avalanche also comes as financial institutions examine blockchain networks for applications extending beyond cryptocurrency trading. For an exchange operator, factors such as transaction performance, interoperability, compliance requirements, settlement capabilities, and integration with existing market infrastructure are central to selecting a blockchain.

The evaluation was highlighted in a post by the Avalanche team on X:

Michael Blaugrund of NYSE touches on why Avalanche technology could be the solution to 24/7 trading via their new ATS pic.twitter.com/cgqLdYlx8y

— Avalanche (@avax) September 17, 2026

Source: Avalanche on X

The post references an alternative trading system, or ATS — an SEC-regulated venue that matches buyers and sellers of securities outside a traditional exchange.

Broader Shift Toward On-Chain Markets

The NYSE initiative forms part of ICE's wider digital-market strategy. The company has been preparing infrastructure capable of supporting continuous trading, tokenized collateral, and blockchain-based settlement. ICE has also been working with financial institutions on tokenized deposits that could support funding and margin requirements outside traditional banking hours.

If Avalanche is ultimately selected, its technology could become part of institutional infrastructure connecting blockchain-based settlement with regulated securities trading, potentially giving the network a significant use case in traditional financial markets.

The development also comes amid regulatory changes in the United States. On September 17, 2026, the Securities and Exchange Commission introduced a five-year exemption framework for certain platforms trading tokenized stocks, subject to conditions including investor protections and shareholder rights. The change provides a new regulatory pathway for blockchain-based securities markets. Those conditions will shape which platforms can operate under the exemption, making the framework's implementation a point to watch as ICE develops its venue.

ICE's planned platform is therefore being developed as financial-market infrastructure rather than simply as a cryptocurrency trading system. For investors and market participants, the proposed model could combine the continuous availability of blockchain markets with regulated securities infrastructure, while potentially enabling faster settlement and stablecoin-based transactions.

The final blockchain selection, launch timetable, and regulatory approvals remain outstanding. Until ICE formally chooses a network, Avalanche's role remains under evaluation rather than confirmed.

This article originally appeared on CoinTrust.