Real-time digital asset settlement network Lynq officially launches with first transaction on Avalanche

The real-time digital asset settlement network Lynq validated its first transaction on the Layer 1 blockchain network Avalanche. 

Lynq, which launched on Tuesday, finalized these transactions after 18 months of market research, according to a release shared with The Block. 

Thirteen crypto firms have onboarded with Lynq's broker dealer tZero Securities since the firm began accepting clients two months ago. Lynq's partners also include Avalanche, Arca, B2C2, Crypto.com, FalconX, Fireblocks, Galaxy, Tassat, tZERO, U.S. Bank, and Wintermute. 

"Almost two years worth of work culminates in today's launch of the next generation of institutional settlement infrastructure. Our partnership with Avalanche reflects a shared vision: to bring institutional finance into the future with reliable, high-speed infrastructure designed for scale and compliance," Lynq CEO Jerald David said in a statement. "We are proud to bring Lynq to market and are grateful to our partners and early adopters whose collaboration and counsel helped shape a solution built by the industry, for the industry."

"Following our official launch, Lynq is focused on three core milestones for the year ahead: expanding institutional participation, driving adoption of our settlement infrastructure, and strengthening network connectivity across key market segments," David told The Block in an email. 

Digital asset infrastructure firm Fireblocks integrated Lynq in May to improve real-time settlement for institutional clients, The Block previously reported. 

The enterprise-grade settlement platform Lynq was developed using Arca Labs's asset management guidance, Tassat's blockchain technology and tZERO's broker dealer licenses. 

AVAX, the native token of Avalanche, is the 20th-largest cryptocurrency by its market capitalization of $9.1 billion, according to The Block's AVAX Price Page. 

(Update: July 16, 16:06 UTC: Includes quote from Jerald David.)