OKXICE Aims to Revolutionize Stock Trading with 24/7 Onchain Venue

OKXICE, a joint venture between OKX and Intercontinental Exchange (ICE), has announced plans for a 24/7 onchain trading platform for tokenized stocks. The venue, operating under the SEC’s new innovation exemption, will offer 63 stock tokens, including Nvidia, Tesla, Apple, Microsoft, and Amazon. Each token will trade against stablecoins like USDC, USDG, or USDT on permissioned Uniswap v4 liquidity pools on OKX’s X Layer blockchain.

Trades will settle onchain, with prices determined by automated market maker formulas. Only wallets holding a non-transferable “soulbound token” can trade or supply liquidity, after undergoing identity and anti-money-laundering checks. The underlying shares are held one-for-one by an SEC-registered broker-dealer, ensuring holders receive dividends and voting rights.

The SEC’s exemption, granted on Sept. 17, limits the venue’s trading activity to 0.25% of a stock’s prior-month average daily volume for Tier 1 stocks. Companies must be notified 30 days before trading their shares, and one company, Cerebras Systems, has already objected. The launch date remains unspecified.

Former New York Gov. Andrew Cuomo, co-chair of the venture, called the filing a 'landmark step toward a truly global, 24/7 Wall Street.' The joint venture was unveiled in June, following ICE’s investment in OKX that valued the crypto exchange at $25 billion.