OKX and ICE Launch Blockchain Marketplace for 24/7 Stock Trading

OKX, a major cryptocurrency exchange, and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have joined forces to create OKXICE. This new venture aims to establish a blockchain-powered marketplace for trading digital securities, including tokenized shares of over 60 U.S. companies such as Nvidia, Tesla, Apple, and Microsoft.

The proposed platform will operate 24/7, allowing continuous trading without the traditional market hours. Transactions will be conducted using stablecoins like USDC, USDT, and USDG, rather than fiat currency. Each digital token will represent a one-to-one correspondence with actual equity shares held by a registered broker dealer, ensuring that token holders maintain the same rights as traditional equity holders, including dividend payments and voting privileges.

OKXICE has already filed documentation with the Securities and Exchange Commission (SEC), outlining the operational mechanics of the proposed trading system. However, the inclusion of companies like Cerebras on the list is not guaranteed, as corporations have a 30-day window to oppose the tokenization of their securities. Analysts from TD Securities have noted that regulatory ambiguity and the temporary nature of the SEC exemption could deter institutional adoption.

The platform will leverage blockchain infrastructure developed by OKX, known as XLayer, and will use liquidity pool technology from Uniswap, a decentralized exchange protocol. The pricing mechanisms will rely on either mathematical algorithms or active oversight from specialized trading entities, with TD Securities suggesting that actively managed pools may be more significant for equity trading.