NYSE Owner and OKX Plan 24/7 Blockchain Trading for 63 US Stocks

The owner of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), and crypto exchange OKX have revealed plans for a blockchain-based trading platform offering 24/7 access to 63 US stocks. The joint venture, OKXICE, announced the initiative yesterday, citing a new Securities and Exchange Commission (SEC) exemption required for such a venue to operate.

The 63 stocks range from tech giants like Nvidia, Tesla, and Apple to financial institutions like Goldman Sachs and crypto-related companies such as Coinbase, Circle, and Robinhood. The platform will not operate an order book or hold client assets. Instead, trades will occur through permissioned liquidity pools on the XLayer blockchain, paired with stablecoins USDC, USDG, or USDT.

OKXICE will rely on Uniswap v4 pools for trading, with approved wallets receiving non-transferable tokens for participation. Former New York Governor Andrew Cuomo, co-chairing OKXICE, described the filing as a "landmark step toward a truly global, 24/7 Wall Street." However, the notice warns that token prices may drift from the underlying stock, especially outside regular exchange hours or in thinly traded pools.

The SEC exemption for this venture lasts five years and was granted just days after a crypto market structure bill failed to advance in the Senate. OKXICE is not registered with the SEC for this activity and operates outside Regulation NMS and fair-access rules. The platform has not yet announced fees or a launch date.