Cryptocurrency exchange OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform. This makes it one of the first major crypto exchanges to take advantage of new US rules allowing digital versions of public-company shares to trade on crypto venues.
OKXICE LLC, a joint venture between OKX and New York Stock Exchange parent Intercontinental Exchange Inc. (ICE), plans to seek approval to offer tokenized shares of an initial list of 63 NYSE-listed companies.
The joint OKXICE venture pairs OKX’s blockchain infrastructure with ICE’s market technology, following ICE’s acquisition of a stake in the crypto firm at a $25 billion valuation. Under the SEC’s new framework, tokenized digital assets must include full shareholder benefits, such as dividends and voting rights, with trading offered on a 24-hour, global scale.
The venue’s launch was enabled by a temporary innovation exemption cleared by the SEC last month after legislative progress on the Clarity Act stalled. Under the rules set by the regulator, issuers have a 30-day notice period to opt out before trading of tokenized securities can officially begin.