OKX, NYSE Parent File for Tokenized US Stock Platform

An OKX joint venture has filed with the US Securities and Exchange Commission to launch a tokenized stock trading platform.

OKXICE LLC, a joint venture between cryptocurrency exchange operator OKX and New York Stock Exchange parent Intercontinental Exchange Inc., has notified the SEC that it intends to launch a tokenized securities venue (TSV) under the SEC’s new innovation exemption.

The platform will include more than 60 companies listed on US stock exchanges, said OKXICE co-chair Andrew Cuomo.

“The digital asset revolution is already transforming our financial system. Tokenized securities are part of what comes next,” he added. 

A public notice dated Oct. 4 lists 63 proposed stock symbols, including Nvidia, Apple, Microsoft and Tesla, alongside crypto companies such as Strategy, Coinbase, Circle and Bitgo. 

The OKXICE platform plans to operate 24 hours a day, seven days a week, using permissioned Uniswap v4 liquidity pools deployed on XLayer. Each tokenized stock would be paired with USDC (USDC), Global Dollar (USDG) or USDt (USDT). 

OKX and Intercontinental Exchange formed a 50-50 joint venture in June to build infrastructure for tokenized financial products.

In September, the SEC issued a temporary exemption allowing limited trading of tokenized US stocks on certain onchain venues. Under the innovation exemption, TSVs can offer permissioned trading of tokenized National Market System (NMS) stocks through automated market makers and liquidity pools.

Related: Winners and losers of the SEC’s new tokenized stock rules

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