OKX Seeks SEC Approval for Tokenized US Stock Trading Platform
OKX, a major cryptocurrency exchange, has filed with the US Securities and Exchange Commission (SEC) to launch a tokenized-stock trading platform. This move comes after new US rules allowed digital versions of public-company shares to trade on crypto venues. OKXICE LLC, a joint venture between OKX and Intercontinental Exchange Inc., plans to offer tokenized shares of 63 public companies, including Nvidia Corp., Apple Inc., Coca-Cola Co., Cisco Systems Inc., and McDonald's Corp.
The SEC's new framework requires issuers to opt out within 30 days before trading can begin. This means that the companies listed will be available for trading on the platform unless they choose to opt out.
OKX is one of the first major crypto exchanges to take advantage of these new rules, which aim to increase access to the stock market for investors.