OKX, NYSE parent ICE joint venture seeks to launch tokenized US stock trading venue
The OKX–Intercontinental Exchange joint venture told the SEC it plans a permissioned on-chain venue for tokenized US equities covering more than 60 listed companies, with a 30-day issuer opt-out.
OKXICE, the joint venture between crypto exchange OKX and NYSE parent Intercontinental Exchange, has notified the US Securities and Exchange Commission that it intends to operate a tokenized securities trading venue under the regulator's innovation exemption. The notice is dated Sunday.
The platform is designed to offer permissioned, on-chain trading of tokenized US stocks on X Layer, OKX's network. According to the filing, the venue plans to cover more than 60 US-listed companies, and issuers will be given 30 days to opt out of having their shares traded there.
The filing follows the SEC's decision last month to issue a five-year exemption that allows certain venues to trade tokenized versions of US-listed stocks without registering as exchanges. OKXICE is positioning itself among the first to make use of that framework.
Issuers in scope
Among the names the platform intends to list are Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Walmart, Netflix, Coca-Cola, Goldman Sachs, Boeing, Cisco, IBM, Coinbase, Robinhood, Palantir, AMD, Circle, Reddit and SpaceX.
"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," Andrew Cuomo, OKXICE's cochair and a former New York governor, said in a statement shared with The Block. "The digital asset revolution is already transforming our financial system. Tokenized securities are part of what comes next. And we're just getting started," he added.
Star Xu, founder and CEO of OKX, said tokenization could make public markets "more open, seamless and always available," adding that "the future of markets is real ownership, onchain. Full shareholder rights are what make that possible."
The filing does not specify a launch date for the venue. The proposal adds to a broader push by exchanges and brokerages to bring tokenized versions of traditional assets to market, a segment that has drawn increasing attention as real-world asset tokenization expands.
Source: The Block