Former New York Governor Andrew Cuomo has described the launch of a 24/7 tokenized stock trading platform as a “transformational game-changer.” His joint venture, OKXICE, a partnership between Intercontinental Exchange (ICE) and crypto exchange OKX, filed with U.S. regulators on Monday to introduce this innovative trading system. Cuomo believes this could attract billions into the U.S. economy by enabling global, round-the-clock trading of American securities.
Cuomo’s involvement in this venture traces back to his tenure as governor, when his administration introduced the BitLicense, the first state-level crypto regulatory framework. He has since advised OKX on U.S. strategy, despite the exchange’s agreement to pay over half a billion dollars in 2025 to resolve a federal investigation. He argues that the failure of the CLARITY Act in the Senate created regulatory ambiguity, allowing the SEC to grant an innovation exemption for tokenized stocks.
Not all companies are enthusiastic about tokenizing their stocks. Cerebras Systems has already declined, and Cuomo expects others to adopt a wait-and-see approach. He acknowledges the disruption this change brings but believes the SEC’s cautious rollout will allow adjustments as needed. Meanwhile, Solana (SOL) is leading the shift, briefly processing more trades than the NYSE in September, according to Citrini Research.
Looking ahead, Cuomo envisions OKXICE evolving into a broader financial-technology company. He sees potential for AI integration, enabling users to trade stocks, make payments, and receive market guidance through a single platform. This shift could redefine traditional finance by merging crypto infrastructure with conventional trading systems.