OKXICE files for 247 tokenized US stocks trading platform
OKXICE, a joint venture between crypto exchange OKX and NYSE-parent Intercontinental Exchange (ICE), has taken a significant step toward launching a tokenized securities platform. The venture filed with the US Securities and Exchange Commission (SEC) to offer around-the-clock trading of US stocks using blockchain-based tokenization. The platform will initially support more than 60 listed companies, enabling continuous trading throughout the week.
The filing comes after the SEC introduced an exemption last month, allowing companies to offer trading in tokenized stocks and other securities. This regulatory move followed the failure of comprehensive cryptocurrency legislation backed by US President Donald Trump to advance in the Senate. The new platform aims to create a 'truly global, 24/7 Wall Street,' according to Andrew Cuomo, former New York governor and co-chair of OKXICE.
Global exchanges, including the NYSE, Nasdaq, and the London Stock Exchange, are also preparing to launch round-the-clock trading in the coming months. However, the push by prediction markets into US stock trading has recently sparked regulatory concerns.