OKX and ICE joint venture notifies SEC of 24/7 tokenized U.S. stock trading plan
A joint venture between crypto exchange OKX and NYSE parent Intercontinental Exchange has notified the SEC it wants to launch round-the-clock trading of tokenized U.S. stocks, a move that would bring blockchain-based shares onshore for the first time under U.S. securities rules. The filing tests how far regulators will let crypto infrastructure merge with traditional equity markets just weeks after Washington opened the door to it.
- OKXICE plans to launch with blockchain-based shares of more than 60 U.S.-listed companies.
- The venture relies on a new SEC “Innovation Exemption,” issued Sept. 17, that runs for five years.
- Listed companies get a 30-day window to object before their shares can be tokenized on the platform.
- 60+ companies slated for the initial tokenized stock trading roster
- 5 years duration of the new SEC exemption underpinning the plan
- $3.2B size of the global tokenized stock market, up 15% in a month
- 30 days window for listed firms to object to having shares tokenized
OKXICE, the 50-50 joint venture OKX and ICE formed in June to build tokenized financial market infrastructure, has notified the U.S. Securities and Exchange Commission of its intent to operate a venue for round-the-clock stock trading, according to reporting by CoinDesk. Former New York Governor Andrew Cuomo, who co-chairs the venture, announced the move in a post on X. The platform would launch with digital versions of shares in more than 60 companies listed on U.S. exchanges.
OKXICE targets a 60-company tokenized trading roster
Tokenized stocks are blockchain-recorded claims on equity that can trade outside the New York Stock Exchange’s standard hours and settle faster than paper-based clearing allows. OKXICE’s filing would extend that structure to onshore U.S. markets for the first time, with shares that carry the same dividend and voting rights as conventional stock.
ICE owns the New York Stock Exchange. Its direct participation signals that tokenization is no longer confined to offshore crypto platforms.
OKX already lists more than 70 tokenized U.S. stock tickers, but those products are issued under offshore rules and off limits to American investors. OKXICE’s SEC filing is designed to bring that same category of product inside U.S. regulatory borders, where it would be available to domestic traders for the first time.
A five-year SEC exemption makes the filing possible
The venture’s plan rests on an “Innovation Exemption” the SEC issued Sept. 17, which allows qualifying trading venues to use automated market makers and liquidity pools for tokenized U.S. stocks. The exemption is temporary, running five years, and comes with conditions meant to protect shareholder rights.
Tokenized shares traded under the exemption must retain the same dividend and voting rights as ordinary stock. Listed companies also get 30 days to object before their shares can be tokenized on a given venue.
Demand for the underlying asset class has been building. The tokenized stock market is worth roughly $3.2 billion globally, up 15% over the past month, according to data from RWA.xyz. That growth has so far occurred almost entirely outside U.S. jurisdiction, through offshore products like OKX’s existing offerings.
Objection period and regulatory steps still stand between filing and launch
OKXICE’s notification to the SEC is not the same as regulatory approval. Launch timing depends on the 30-day window for companies to object to tokenization of their shares, plus whatever additional steps the SEC requires before trading can begin.
CoinDesk’s reporting does not include comment from the SEC or from any of the more than 60 companies whose shares would be tokenized under the plan. Their position on the filing is not represented in the available reporting.
The BlockWest read. We read this as ICE testing whether its exchange-grade compliance machinery can absorb crypto-native market structure without triggering a shareholder backlash during the 30-day objection window. If even a handful of the 60-plus companies object, OKXICE’s launch roster shrinks before trading starts, and the exemption’s five-year clock becomes a template other venues will copy or avoid.
The next concrete marker is the 30-day objection period itself, during which each of the more than 60 listed companies can decline to have its shares tokenized on the OKXICE venue before any SEC sign-off on a launch date.
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