The New York Stock Exchange said tokenized stocks on its planned 24-hour trading platform would settle exclusively on the Avalanche blockchain. The platform is targeting a fourth-quarter launch, subject to regulatory approval. It would use NYSE’s existing technology to match trades and Avalanche to settle them instantly.

KKR reported third-quarter profit of $1.12 billion, or $1.19 a share, up from $859.9 million, or 90 cents a share, a year earlier. The New York investment firm said fee-related earnings rose, helped by higher management fees. Adjusted earnings were $1.78 a share, topping the $1.58 expected by analysts surveyed by FactSet.

Crédit Agricole said it had approached Banco BPM about a potential merger with its Italian business, amid a wave of dealmaking in Italy’s banking sector. The French bank proposed combining its Italian banking and insurance operations with BPM and paying BPM shareholders a 1 billion euros dividend, equivalent to $1.11 billion, in exchange for roughly 45% of the combined group. Crédit Agricole currently holds a 29.6% stake in BPM, making it the Italian bank’s largest shareholder.