COINTELEGRAPH · 2026-11-10 21:08 UTC

Ava Labs exec says NYSE deal marks end of blockchain's 'general purpose era'

Ava Labs chief business officer John Nahas says the planned NYSE-affiliated tokenized securities platform, which will use Avalanche technology for clearing and settlement, shows financial institutions want control over their blockchains. Nahas argues crypto's preference for general-purpose blockchains and reluctance to meet compliance rules has slowed institutional adoption. The NYSE move comes as 67 companies, including Apple, Amazon, Meta and Tesla, objected to third parties tokenizing their shares on the separate OKXICE venue as of Nov. 5.

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