Key highlights:
- OKX and ICE are launching a joint venture to offer 24/7 trading of tokenized U.S. stocks.
- The proposed platform initially targets 63 U.S.-listed companies, including Apple, Nvidia, Tesla and Coinbase.
- The venture has filed with the SEC under a new innovation exemption as traditional finance and crypto move closer onchain.
OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, are moving to bring 24/7 stock trading onchain through their joint venture OKXICE. The venture has notified the U.S. Securities and Exchange Commission of plans to launch a tokenized securities trading venue covering more than 60 U.S.-listed companies.
OKX and ICE target 24/7 stock trading
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The platform is being proposed under the SEC’s new innovation exemption, which provides a temporary regulatory pathway for qualifying venues to offer tokenized U.S. securities. The exemption will allow blockchain-based trading structures while maintaining investor protections associated with traditional securities.
Unlike purely synthetic exposure to stocks, the proposed structure will preserve traditional shareholder rights, including dividends and voting rights.
That distinction is important as the U.S. market moves toward blockchain-based versions of traditional assets. The NYSE itself announced plans earlier this year for a tokenized securities platform supporting 24/7 trading, fractional shares and faster settlement.
OKX already offers tokenized U.S. stocks and ETFs to eligible customers outside the U.S. and Europe. Its existing offering launched with more than 40 tokenized stocks and ETFs and allows round-the-clock trading against USDT.
ICE and OKX deepen their financial-market partnership
The proposed trading venue follows a strategic relationship announced by ICE and OKX in March.
ICE invested in OKX at a valuation of about $25 billion and agreed to place a board member at the crypto company. The companies subsequently established a 50-50 joint venture focused on connecting OKX’s blockchain infrastructure with ICE’s traditional market technology.
The partnership is designed to give OKX customers access to ICE futures and NYSE tokenized equities, subject to regulatory approval. ICE, meanwhile, is seeking to expand its role in blockchain-based trading, settlement, custody and capital formation.
“This is a landmark step toward a truly global, 24/7 Wall Street, and toward keeping the future of digital finance anchored here in the United States,” said former New York Governor Andrew Cuomo.
The latest filing represents a significant step in that strategy. If approved and launched, OKXICE would put a crypto-native trading platform and the operator of the world’s best-known stock exchange infrastructure on the same side of the push to move traditional securities markets onchain.
Source:: OKX Teams Up With NYSE Parent Company to Launch Tokenized Stock Trading Platform