OKX and New York Stock Exchange parent Intercontinental Exchange (ICE) are moving to launch a regulated tokenized-stock trading platform in the United States, filing with the Securities and Exchange Commission as Wall Street accelerates its shift toward blockchain-based securities.
Their joint venture, OKXICE LLC, notified the SEC on October 4 that it intends to operate a Tokenized Securities Venue, or TSV, under the regulator’s recently introduced Innovation Exemption. The proposed platform would initially support tokenized shares of more than 60 U.S.-listed companies and allow trading around the clock.
Bloomberg reported that the initial universe comprises 63 NYSE-listed companies, while Reuters described it as more than 60 companies. The difference reflects reporting precision rather than conflicting platform sizes.
The filing builds on a relationship that began in March, when ICE invested in OKX at a $25 billion valuation and took a seat on its board. The companies subsequently established a 50-50 joint venture to develop tokenized and digitally native financial infrastructure.
SEC Exemption Opens Door to 24/7 Stocks
The timing follows a significant change in U.S. securities regulation. On September 17, the SEC granted temporary conditional relief allowing qualifying TSVs to facilitate onchain trading of tokenized National Market System stocks through permissioned automated market makers and liquidity pools.
The framework does not simply turn ordinary stocks into unregulated crypto tokens. Eligible tokenized securities must provide holders with the same rights and privileges as their traditional counterparts, including dividend and voting rights. Issuers must also be given an opportunity to object to having their securities traded through a TSV. Federal anti-fraud and anti-manipulation requirements continue to apply.
That differs from some tokenized-stock products already available internationally, which can provide economic price exposure without direct ownership or shareholder rights.
OKX itself launched tokenized U.S. stocks internationally earlier this year, but explicitly excludes U.S. persons from that existing Regulation S product.
OKXICE’s proposed platform is therefore a separate and more consequential development: it is designed specifically to operate within the new U.S. regulatory framework.
ICE Pushes NYSE Markets Onchain
ICE’s involvement also means the project extends beyond a crypto exchange independently tokenizing stocks.
The NYSE parent said in March that its strategic relationship with OKX would combine OKX’s blockchain infrastructure and global distribution with ICE’s regulated-market technology, clearing expertise and institutional network. ICE said OKX could ultimately provide its customers access to NYSE tokenized-equities markets, subject to regulatory approval.
NYSE has separately been developing its own 24/7 digital trading venue for tokenized securities. Executives have described plans for tokenized equities to trade continuously against stablecoins, with blockchain infrastructure supporting transfers and settlement.
The OKXICE filing therefore sits within a much broader attempt to connect traditional U.S. securities with always-on blockchain markets.
It could also narrow one of the biggest structural differences between crypto and equities. Cryptocurrency markets operate continuously, while conventional U.S. stock trading remains centered around defined exchange sessions and established clearing and settlement processes.
Tokenization potentially allows stocks to move through blockchain infrastructure outside those conventional hours while retaining securities-law protections.
The filing does not mean the platform is already live. OKXICE still needs to satisfy the SEC’s conditions before beginning operations, and issuers have protections under the exemption.
But the significance is substantial: one of the world’s largest crypto exchanges and the company that owns the New York Stock Exchange are jointly pursuing a regulated U.S. venue where tokenized American equities could trade 24/7 on blockchain rails.