OKX, ICE Venture Seeks to Launch U.S. Tokenized Stock Trading Platform for 60-Plus Shares

Global crypto exchange OKX said on October 6 that OKXICE, its joint venture with Intercontinental Exchange, the parent of the New York Stock Exchange, is seeking to launch a tokenized stock trading platform in the U.S.

OKX said OKXICE notified the U.S. Securities and Exchange Commission of the plan on October 4. The venture aims to complete the regulatory process and allow trading in tokenized shares of more than 60 U.S.-listed companies.

OKXICE plans to combine OKX's blockchain infrastructure with ICE's market technology to connect traditional capital markets with on-chain finance.

The initial list includes major U.S. technology companies such as Nvidia, Tesla, Apple, Microsoft, Amazon and Alphabet, as well as digital-asset firms including Coinbase, Circle, Robinhood, Strategy and Securitize. JPMorgan, Goldman Sachs, Walmart, Netflix, Reddit and Boeing are also included.

The tokenized shares proposed by OKXICE would represent rights to actual shares through blockchain-based digital tokens. Each token would be backed by a corresponding share and designed to give holders the same economic and shareholder rights as conventional stock, including dividends and voting rights.

Trading would operate through blockchain-based liquidity pools rather than a traditional order book. Users would be able to trade with dollar-pegged stablecoins including USDC, USDT and USDG. OKXICE is aiming to build a 24/7 market that includes after-hours trading and weekends.

The move follows the SEC's Innovation Exemption framework introduced last month. The program temporarily allows qualifying trading platforms to use automated market makers and liquidity pools to trade tokenized U.S.-listed shares for five years.

Tokenized shares must guarantee rights equivalent to those of conventional stock, including dividends and voting rights. Listed companies can request within 30 days that their shares be excluded from tokenized trading.

Andrew Cuomo, a former New York governor and co-chair of OKXICE, said tokenization is gaining real traction and the market is beginning to see what can happen when traditional market infrastructure meets blockchain technology. He added that the initiative is a chance to show that a 24-hour on-chain market can make trading and settlement more efficient, accessible and global.

The timing of the launch and the final list of stocks will depend on the SEC review process, whether listed companies participate and whether related requirements are met.