OKX and NYSE Parent ICE File to Launch Tokenized Stock…
By Karthik Subramanian
AI summary of the source article
OKX and Intercontinental Exchange (ICE) have notified the SEC of plans to operate OKXICE LLC, a 50-50 joint venture serving as a Tokenized Securities Venue (TSV). Benefiting from the SEC's September 17 conditional relief, the proposed venue aims to facilitate 24/7 onchain trading of more than 60 U.S.-listed stocks via permissioned automated market makers. Unlike international synthetic alternatives, eligible tokens will retain traditional shareholder rights like dividends and voting. The platform follows ICE's investment in OKX at a $25 billion valuation in March and marks a key effort to bridge traditional equity markets with continuous blockchain-based trading.
Why it matters
The initiative bridges traditional equities and crypto rails, potentially establishing regulated 24/7 trading for major U.S. stocks with full shareholder rights.
Key facts
- OKX and ICE filed with the SEC on October 4 to launch OKXICE LLC, a Tokenized Securities Venue for over 60 U.S.-listed stocks.
- The initiative leverages the SEC's September 17 Innovation Exemption granting conditional relief for onchain trading of NMS stocks.
- The platform builds on a 50-50 joint venture established after ICE invested in OKX at a $25 billion valuation in March.