OKX and NYSE Parent File to Launch Tokenized US Stock Trading Platform
OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, through their joint venture OKXICE LLC, have filed with the US SEC to launch a tokenized stock trading platform. The platform aims to list over 60 US companies and operate under the SEC’s newly established innovation exemption that enables limited trading of tokenized securities. This marks a significant move towards creating a global, 24/7 digital financial market anchored in the US.
Joint Venture Formation and SEC Filing
In June, cryptocurrency exchange operator OKX and Intercontinental Exchange (ICE), owner of the New York Stock Exchange, established the joint venture OKXICE LLC with equal ownership stakes. Recently, they notified the US Securities and Exchange Commission (SEC) of their plan to launch a tokenized securities trading platform.
This platform will operate under the SEC’s new innovation exemption introduced in September, which allows limited trading of tokenized US stocks on approved blockchain venues.
Platform Features and Stakeholders’ Statements
The platform aims to list over 60 US companies whose shares trade on national stock exchanges. OKXICE co-chair Andrew Cuomo emphasized that this is a landmark step toward creating a truly global, 24/7 digital finance market anchored in the United States.
The trading venue will provide permissioned trading of tokenized National Market System (NMS) stocks through automated market makers and liquidity pools, broadening access and trading opportunities for investors.
Why it matters
This development is significant because it marks the first time major Wall Street players and a crypto exchange have partnered to establish a licensed platform for trading tokenized US stocks under SEC regulation. It has the potential to accelerate digital finance adoption, enable a more accessible and 24/7 stock market, and broaden blockchain utilization in traditional financial markets.
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