Blockchain Market Set to Tokenize Nvidia, Tesla, and Other Major Stocks
Major U.S. stocks, including Nvidia, Tesla, Apple, and Microsoft, are poised to enter the blockchain era. OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have announced plans to launch a new market where these and over 60 other stocks will be tokenized and tradable 24/7.
The initiative, detailed in a regulatory filing by OKXICE, a joint venture between OKX and ICE, lists prominent companies like Amazon, Alphabet, JPMorgan, and Goldman Sachs, alongside crypto-linked firms such as Coinbase, Circle, and Robinhood. However, not all listed stocks are guaranteed to be included, as companies have a 30-day window to object. For instance, Cerebras has already raised concerns about its inclusion.
Tokenized stocks represent traditional equities in digital form, allowing investors to buy and sell them on a blockchain. Each token corresponds to an actual share held by a registered broker-dealer, ensuring that investors receive the same economic and shareholder rights, including dividends and voting privileges. Transactions will use stablecoins like USDC, USDT, and USDG, maintaining a value of $1 each.
The platform will operate differently from traditional stock markets. Instead of matching buyers and sellers, tokenized stocks and stablecoins will reside in blockchain-based pools. Prices will fluctuate based on the supply and demand within these pools, offering a novel approach to trading equities.