OKX, ICE Plan US Joint Venture to Connect Tokenized Stocks and Digital-Asset Markets

Global crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange, plan to establish a joint venture for tokenized financial products and digital-asset markets.

OKX said June 22 that the two companies will each hold a 50% stake in the venture and seek US registrations as a broker-dealer and futures commission merchant, or FCM. If regulators approve the plan, OKX users in the US and overseas will be able to access ICE futures markets and the NYSE's tokenized stock market.

Through the venture, the companies plan to work together on next-generation financial infrastructure linking traditional financial markets with digital-asset markets. They also intend to jointly pursue new business opportunities tied to blockchain-based financial markets, subject to regulatory compliance.

The announcement is a follow-up to ICE's strategic investment in OKX in March. The joint venture will be co-chaired by ICE and former New York Governor Andrew Cuomo. Cuomo has worked with OKX since 2023.

OKX Chief Executive Officer Star Xu said the future of capital markets will not be built by crypto alone. Technology, regulation, institutions and public policy must work together, he added, and the convergence of traditional and digital finance is now becoming a reality.