OKX Seeks SEC Approval for Tokenized Stock Trading Platform
OKX has filed with the Securities and Exchange Commission (SEC) to launch a tokenized-stock trading platform, marking a significant move for the cryptocurrency exchange operator. The platform, a joint venture between OKX and Intercontinental Exchange Inc. (ICE), the parent company of the New York Stock Exchange (NYSE), aims to offer tokenized shares of 63 NYSE-listed companies. According to the SEC's new framework, issuers have 30 days to opt out before trading can begin. The development comes as the US regulators continue to loosen rules for digital assets, paving the way for major players like OKX to enter the tokenized stock market.
OKXICE LLC, the joint venture, plans to seek approval to offer tokenized shares of the listed companies, which include household names such as Johnson & Johnson, Procter & Gamble, and Coca-Cola. The move is seen as a significant step forward for OKX, which has been expanding its presence in the US market. The tokenized stock trading platform will allow investors to buy and sell digital versions of public-company shares on the OKX exchange.