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Joint venture of OKX and NYSE parent ICE files for 24/7 tokenized U.S. stock trading
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- DeepHorus
OKXICE, a joint venture between OKX and NYSE parent Intercontinental Exchange, has notified the SEC of plans for a tokenized U.S. stock venue. It would cover more than 60 listed companies and enable 24-hour trading. Former New York Gov. Andrew Cuomo, the venture’s co-chair, announced the move on X.
Tokenized shares would be digital versions of conventional stocks that can trade outside normal market hours and settle faster. The tokens are intended to retain dividend and voting rights. OKXICE says the project combines traditional market infrastructure with blockchain technology.
The plan relies on the SEC’s Sept. 17 Innovation Exemption, allowing qualifying venues to use automated market makers and liquidity pools for tokenized U.S. stocks. The five-year exemption requires tokens to carry the same rights as regular shares, and companies would have 30 days to object to tokenization.
OKX and ICE formed the 50-50 joint venture in June to develop infrastructure for tokenized financial products. OKX already lists more than 70 tokenized U.S. stock tickers, although those offshore offerings are unavailable to U.S. investors. A regulated onshore venue could materially change that access equation.
RWA.xyz estimates that tokenized stocks are worth about $3.2 billion, up 15% in the past month. Exchanges have made offshore versions available to customers outside the United States, but U.S. investors have generally not been able to buy them. ICE’s participation indicates that tokenization is moving toward mainstream financial-market infrastructure.
Cuomo said the initiative will test whether traditional markets and blockchain can make trading and settlement more efficient, accessible and global. Potential benefits include wider access and faster settlement, but the timetable depends on regulatory steps, issuer objections and market liquidity. If launched under the temporary exemption, OKXICE would have five years to demonstrate whether 24/7 onchain trading can establish a durable U.S. foothold.
