OKXICE Launches 24/7 Tokenized Stock Trading Platform with NYSE Parent ICE
OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have teamed up to launch a joint venture called OKXICE. This new platform aims to offer 24/7 trading of tokenized U.S. stocks, initially targeting 63 U.S.-listed companies, including Apple, Nvidia, Tesla, and Coinbase. The proposed platform has filed with the U.S. Securities and Exchange Commission under a new innovation exemption, which provides a temporary regulatory pathway for qualifying venues to offer tokenized U.S. securities.
The platform will allow investors to trade tokenized versions of U.S. stocks outside traditional market hours using blockchain infrastructure. Issuers will have a 30-day period to object to having their shares represented on the platform. The OKXICE platform is being proposed under the SEC's new innovation exemption, which will allow blockchain-based trading structures while maintaining investor protections associated with traditional securities.
Unlike purely synthetic exposure to stocks, the proposed structure will preserve traditional shareholder rights, including dividends and voting rights. This is significant as the U.S. market moves toward blockchain-based versions of traditional assets. The NYSE itself announced plans earlier this year for a tokenized securities platform supporting 24/7 trading, fractional shares, and faster settlement.
OKX already offers tokenized U.S. stocks and ETFs to eligible customers outside the U.S. and Europe. Its existing offering launched with more than 40 tokenized stocks and ETFs and allows round-the-clock trading against USDT.
The proposed trading venue follows a strategic relationship announced by ICE and OKX in March. ICE invested in OKX at a valuation of about $25 billion and agreed to place a board member at the crypto company. The companies subsequently established a 50-50 joint venture focused on connecting OKX's blockchain infrastructure with ICE's traditional market technology.