ICE and OKX plan 24/7 tokenized stock trading with Uniswap
Intercontinental Exchange (ICE), the owner of the New York Stock Exchange, and OKX are collaborating to launch a 24/7 trading platform for tokenized US stocks. Their joint venture, OKXICE, filed a notice with the Securities and Exchange Commission (SEC) on October 4, aiming to operate under the regulator's Innovation Exemption. The proposed platform will initially support 63 securities, including major companies like Nvidia, Tesla, Apple, Microsoft, JPMorgan, Goldman Sachs, Coinbase, and Circle.
The platform will create a parallel market that remains open around the clock, allowing tokenized shares to reprice even when traditional exchanges are closed. This could provide investors with a continuous reference for stock prices during nights and weekends. OKXICE co-chair and former New York Gov. Andrew Cuomo called it a 'landmark step toward a truly global, 24/7 Wall Street,' while OKX founder Star Xu described the filing as a market-structure experiment worth testing at scale.
The platform will use Uniswap v4 liquidity pools on OKX's X Layer blockchain network, with tokenized stocks trading against stablecoins like USDC, USDT, or USDG. Investors will hold assets in self-custodial wallets, but access will be restricted to those who pass identity and anti-money-laundering checks. The SEC has imposed limits on the number of securities and trading volume under its temporary exemption, which runs through September 17, 2031.
The SEC has also required OKXICE to publish notice at least 30 calendar days before opening, making an early-November launch the earliest possible timing. Some companies, like Cerebras Systems, have already objected to having their shares traded on the platform, preventing their tokenized stocks from being listed under the current framework.