OKX and ICE File for 24/7 Tokenized Stock Trading Platform
OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, are advancing plans to launch a platform for 24/7 trading of tokenized U.S. stocks. On October 4, their joint venture, OKXICE LLC, filed with the U.S. Securities and Exchange Commission (SEC) to create a Tokenized Securities Venue (TSV). The initial offering would include tokenized shares of 63 NYSE-listed companies, subject to SEC approval.
The proposed platform would allow eligible users to trade blockchain-based versions of U.S. stocks outside traditional market hours. However, the filing does not grant immediate operational rights; OKXICE must meet applicable SEC requirements before commercial trading can begin. The platform aims to provide investors with the same rights and economic interests as the underlying securities, including dividends and voting rights.
This move follows the SEC’s introduction of an Innovation Exemption, which creates a regulatory path for eligible venues to offer tokenized versions of securities. The exemption allows qualifying venues to operate permissioned on-chain trading for eligible National Market System stocks, though with restrictions on the number of securities and trading volumes. Companies whose shares are selected for tokenization have a 30-day period to object.
The partnership between OKX and ICE combines crypto and traditional market infrastructure. ICE invested in OKX earlier this year, valuing the crypto exchange at approximately $25 billion. The joint venture aims to connect traditional financial markets with digital assets, offering a regulated platform for tokenized securities trading. If approved, the platform could provide around-the-clock access to tokenized U.S. stocks, potentially transforming market accessibility.