OKXICE Aims to Launch 247 Tokenized Stock Trading on Uniswap

OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange Inc., has filed with the U.S. Securities and Exchange Commission to launch a 24/7 trading platform for tokenized U.S. stocks. The venue will operate using Uniswap v4 liquidity pools on XLayer, a blockchain developed by OKX, and will allow investors to trade tokenized shares against stablecoins like USDC, USDT, and USDG.

The platform plans to support trading for 63 proposed ticker symbols, including major companies like Nvidia, Apple, Microsoft, Tesla, JPMorgan, and Goldman Sachs, as well as crypto-linked firms such as Strategy, Coinbase, Circle, and BitGo. OKXICE co-president Andrew Cuomo described the filing as a 'landmark step toward a truly global, 24/7 Wall Street,' highlighting the potential of tokenized securities to transform the financial system.

Trading will rely on automated market makers (AMMs) rather than traditional order-matching systems. TD Securities analysts noted that proprietary AMMs and managed multi-pool venues could offer advantages over conventional models, particularly in reducing the risk of stale prices for liquidity providers.

The filing includes a 30-day waiting period before trading can begin, with the earliest possible start in early November. Companies have a 30-day window to object to the inclusion of their shares, and Cerebras has already objected to its stock being listed. Additionally, the SEC’s five-year innovation exemption limits the venue to trading no more than 75 symbols and capping trading volume at 0.25% of a stock’s prior-month average daily volume for Tier 1 symbols.