OKX and ICE Plan Tokenized Stock Trading Platform for 63 NYSE Companies

OKX and Intercontinental Exchange Inc. (ICE), the parent company of the New York Stock Exchange, have filed paperwork with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized stock trading platform. The joint venture, OKXICE LLC, aims to tokenize and trade shares of 63 NYSE-listed companies, enabling investors to hold tokenized securities that include dividends and voting rights.

The filing comes after the SEC introduced a temporary “innovation exemption” last month, allowing blockchain-based securities to trade in the U.S. This exemption permits issuers to request exclusion from tokenization and includes a 30-day objection period before trading can commence. OKXICE is among the first firms seeking to operate under this new framework.

Andrew Cuomo, co-chair of OKXICE, highlighted the efficiency of blockchain, liquidity pools, and smart contracts in trading stocks. He suggested that this model could enable 24-hour global stock trading, offering substantial advantages over traditional methods. ICE previously invested in OKX in March, valuing the company at $25 billion and agreeing to collaborate on a U.S.-compliant crypto futures market.

The SEC’s exemption is expected to spark competition among crypto firms in the U.S. to tokenize stocks, with varying business models ranging from direct collaboration with listed companies to third-party token issuance. The timing of OKXICE’s commercial launch will be determined after the 30-day issuer objection period ends and all relevant requirements are met.