OKX and NYSE Parent Team Up for Tokenized Stock Platform
OKX, the cryptocurrency exchange, and Intercontinental Exchange, the parent company of the New York Stock Exchange, have filed with the US Securities and Exchange Commission to launch a tokenized stock trading platform.
The joint venture, OKXICE LLC, aims to create a tokenized securities venue (TSV) under the SEC's new innovation exemption.
The platform will include more than 60 companies listed on US stock exchanges, according to OKXICE co-chair Andrew Cuomo.
This is a significant step towards creating a global, 24/7 financial market, and a major development in the integration of traditional and digital finance.
The SEC issued a temporary exemption in September, allowing limited trading of tokenized US stocks on certain on-chain venues.
Under the innovation exemption, TSVs can offer permissioned trading of tokenized National Market System (NMS) stocks through automated market makers and liquidity pools.