TechFlow News — Avalanche has announced the launch of Spruce, the testnet for its Evergreen subnet. Initial institutional partners include T. Rowe Price Associates, WisdomTree, Wellington Management, and Cumberland. Participating institutions will use Spruce as a testing ground for various applications and assets to evaluate the benefits of on-chain transaction execution and settlement.
The Spruce testnet is designed to enable institutional participants on both sides of transactions to engage with public blockchain infrastructure in a low-risk, low-barrier environment. By using non-valuable tokens, institutions can experience the full functionality of Avalanche's subnet architecture without exposing capital to risk.
Previously, Avalanche announced the launch of Avalanche Evergreen Subnet, a suite of institutional blockchain deployment services and tools specifically designed for financial services.
