OKX and ICE Plan Tokenized US Stock Trading Platform

OKX and Intercontinental Exchange (ICE) have announced plans to launch a trading platform for tokenized US stocks, submitting a notification to the US Securities and Exchange Commission (SEC). The platform, named OKXICE TSV, will allow both individual and institutional investors to trade 63 tokenized stocks, including major companies like NVIDIA, Apple, Microsoft, Tesla, Coinbase, and Circle, 24 hours a day, seven days a week.

The trading will take place on Uniswap v4, a decentralized exchange protocol developed on OKX's Ethereum Layer 2 network, XLayer. The platform will utilize a permissioned system, where only approved wallets can participate. The tokenized stocks will be traded against stablecoins USDC, USDG, or USDT.

OKXICE TSV will not hold users' assets or maintain an order book. Instead, it will rely on a liquidity pool mechanism managed by smart contracts. The SEC's Innovation Exemption, introduced on September 17, provides a conditional exemption from the definition of an exchange for platforms like OKXICE TSV, allowing them to operate under specific conditions, including limits on the number of securities and trading volumes.

Before issuing tokenized stocks, third parties must notify the original stock issuers and provide an opportunity to object. The SEC's exemption applies for five years from the date of announcement. The exact launch date for the platform has not been disclosed.