Wisdom Tree, T. Rowe Price Among TradFi Firms to Test Avalanche's Blockchain Subnet
The subnet will offer the company's opportunity to make trade execution and settlements more efficient.
Financial Institutions including T. Rowe Price, Wisdom Tree, Wellington and Cumberland have joined layer 1 blockchain Avalanche’s Evergreen subnet “Spruce” to make trade execution and settlements more efficient.
Avalanche launched Evergreen Subnets earlier this month aimed at offering a suite of blockchain deployments and tooling for financial institutions. Evergreen Subnets are Ethereum Virtual Machine (EVM)-based chains with a permissioned validator set and a custom gas token to power transactions, according to a press release.
