Turkish signature on Wall Street's new infrastructure

Avalanche blockchain technology will be used in the new digital trading platform connected to the New York Stock Exchange. The system, which is planned to be implemented after the necessary regulatory approvals, aims to represent stocks in a digital environment, to trade at any time of the day and to finalize transactions in a short time.

In the new system, it is envisaged that the stocks will be digitally represented on the blockchain and the transactions will be recorded. Avalanche technology will provide the platform's underlying registration infrastructure that supports clearing and settlement transactions. Fast transaction completion, predictable costs and the ability to control the organizations that can participate in the system are among the prominent factors in technology preference.

New York Stock Exchange Digital Issuance President Dennis Lee also stated that they are evaluating different technologies for the new platform and stated that speed, reliability, cost predictability and participant control are critical in the infrastructure where transaction records are kept. Lee stated that Avalanche meets these needs.

Ava Labs, founded and CEO by Turkish scientist Emin Gün Sirer, plays an important role in the development of Avalanche technology to be used in Wall Street's new digital infrastructure. The company develops technologies that enable organizations to create blockchain networks that suit their needs and regulatory requirements. The planned use of the New York Stock Exchange-connected platform is important in terms of moving this technology beyond individual cryptocurrency transactions to the basic infrastructure of traditional financial markets.

Evaluating the development, Ava Labs Founder and CEO Emin Gün Sirer stated that the new platform will be supported by a special infrastructure that is compatible with 24/7 transaction reconciliation and whose performance and costs are predictable. Sirer stated that the developed technology was designed to meet regulatory and operational requirements, and that their goal is to support digital asset issuance and transaction settlement at the scale needed by global financial markets.