OKX, NYSE parent ICE joint venture seeks to launch tokenized US stock trading venue

OKXICE, the joint venture between OKX and NYSE parent Intercontinental Exchange, has notified the Securities and Exchange Commission that it intends to launch a tokenized securities trading venue under the innovation exemption. 

In a notice dated Sunday, OKX said the new platform is designed to offer permissioned, on-chain trading of U.S. tokenized stocks on X layer. The venue plans to cover more than 60 U.S.-listed companies, and issuers will have 30 days to opt out.

The new venue comes after the SEC last month issued a five-year exemption that lets certain venues trade tokenized versions of U.S.-listed stocks without registering as exchanges. 

The stocks the platform plans to offer for trading include Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Walmart, Netflix, Coca-Cola, Goldman Sachs, Boeing, Cisco, IBM, Coinbase, Robinhood, Palantir, AMD, Circle, Reddit, and SpaceX, among others.

"This is a landmark step toward a truly global, 24/7 Wall Street — and toward keeping the future of digital finance anchored here in the United States," Andrew Cuomo, OKXICE's cochair and a former New York governor, said in a statement shared with The Block.

"The digital asset revolution is already transforming our financial system. Tokenized securities are part of what comes next. And we’re just getting started," Cuomo added.

Star Xu, founder and CEO of OKX, said tokenization could make public markets "more open, seamless and always available."

"The future of markets is real ownership, onchain. Full shareholder rights are what make that possible," Xu said.