Wall Street Players Will Test On-Chain Trades on Avalanche’s Spruce Testnet

Firms such as T. Rowe Price Associates, WisdomTree, Wellington Management and Cumberland are set to reap the benefits of on-chain trading and settlement of currency and interest rate swaps through the Spruce testnet of the Evergreen subnet of the Avalanche blockchain.

This testnet allows users to experience the functionality of Evergreen without putting capital at risk through the use of test tokens.

The Evergreen subnets are EVM blockchains with a controlled set of validators and a custom token to secure transactions.

Going forward, additional third-party dApps, assets and processes will be made available, including the issuance of tokenized stocks and bonds, trading and fund management.