OKX And NYSE Owner ICE Move Toward 24/7 Tokenized US Stock Trading

TL;DR: OKXICE, the joint venture between OKX and Intercontinental Exchange, has notified the SEC of plans for a tokenized securities venue that would offer round-the-clock trading in US stocks. More than 60 companies are included in the initial plan, pushing one of crypto’s biggest tokenization ideas directly into regulated US market infrastructure.

One of the most consequential tokenized-stock experiments yet is moving toward the US market.

OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange, has notified the Securities and Exchange Commission of plans to launch a tokenized securities trading venue.

The proposal would bring blockchain-based versions of US stocks into an around-the-clock market rather than limiting trading to the conventional exchange session.

OKXICE intends to support more than 60 US-listed companies.

The list includes some of the biggest names in technology and crypto-linked equities, placing the project well beyond the proof-of-concept stage usually associated with tokenized shares.

The venue is being developed under the SEC’s innovation exemption framework.

That framework gives qualifying platforms a route to experiment with tokenized securities while still operating inside regulatory boundaries.

There is an important protection for the companies themselves.

Before a venue can begin offering a tokenized version of a stock, the issuer receives notice and has an opportunity to object.

That means tokenization cannot simply be imposed on a public company without a regulatory process around it.

The trading infrastructure is expected to use OKX’s X Layer blockchain.

For ICE, the project creates an unusually direct bridge between one of the most established names in global exchange infrastructure and blockchain settlement.

For OKX, it offers something equally valuable: a route into regulated US securities markets that goes far beyond crypto spot trading.

The implications could be substantial if the model works.

Tokenized equities promise continuous trading, programmable settlement and potentially easier movement of assets between financial applications.

But they also raise difficult questions around shareholder rights, custody, corporate actions and the relationship between the token and the underlying registered security.

Having the owner of the NYSE involved makes those questions much harder for traditional finance to ignore.

Crypto firms have talked about putting stocks on-chain for years.

This project is different because one side of the joint venture already operates at the center of the conventional stock market.

If OKXICE reaches launch, 24/7 tokenized equities will no longer look like something being built outside Wall Street.

Wall Street will be helping build them.

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