OKX and ICE File With SEC to Bring Tokenized US Stock Trading to American Markets
Key Takeaways
- •OKXICE LLC, a joint venture between OKX and Intercontinental Exchange, has filed paperwork with the SEC to launch a platform for trading tokenized versions of U.S. stocks.
- •The proposed platform would initially target 63 NYSE-listed companies, and issuers may object to having their shares tokenized during a 30-day period.
- •The SEC's temporary framework requires tokenized securities to preserve core shareholder rights, including dividends and voting privileges, distinguishing the planned U.S. platform from some tokenized stock products offered abroad.
- •OKX already provides tokenized exposure to U.S. stocks and ETFs in international markets with 24-hour trading, but those products generally do not grant holders direct shareholder rights.
- •The filing deepens the OKX-ICE partnership, which includes ICE's March investment in OKX at a valuation of roughly $25 billion and an agreement to develop regulated U.S. crypto futures products.
OKX and Intercontinental Exchange (ICE) have taken a significant step toward bringing tokenized equities to United States markets. OKXICE LLC, their joint venture, has filed paperwork with the Securities and Exchange Commission (SEC) to launch a platform for trading blockchain-based versions of U.S. stocks. Bloomberg reported the filing on Oct. 4. The move comes weeks after the SEC established a temporary framework for tokenized securities.
The proposed platform would initially target 63 companies listed on the New York Stock Exchange (NYSE). Under the new framework, companies may object to having their shares tokenized during a 30-day period, giving individual issuers a direct say in whether their stock is included. Trading could begin once that window closes and the venture satisfies the required conditions.
A new path for tokenized equities
The SEC's temporary exemption marks a notable shift in the U.S. approach to blockchain-based securities. The regulator permits qualifying trading venues to use blockchain infrastructure for tokenized National Market System stocks — the exchange-listed universe covered by the SEC's national market rules.
The framework, however, requires tokenized securities to preserve the core rights attached to traditional shares, including dividends and voting privileges. That requirement distinguishes the proposed U.S. platform from some tokenized stock products currently offered outside the country.
OKX already provides tokenized exposure to U.S. stocks and exchange-traded funds (ETFs) in several international markets. Those existing products support 24-hour trading but generally do not grant holders direct shareholder rights. Any U.S. version built under the SEC framework would have to meet that rights-preservation standard, a structural change from what OKX currently offers abroad.
OKX and ICE deepen their partnership
The filing also broadens a strategic relationship between OKX and ICE, the parent company of the NYSE. ICE invested in OKX in March at a valuation of roughly $25 billion, and the two companies agreed to develop regulated U.S. crypto futures products. Further background on the partnership is available via OKX's official overview.
The tokenized-stock venture pairs OKX's blockchain infrastructure with ICE's traditional market technology. Notably, the companies slated for the initial rollout trade on the NYSE — the exchange ICE owns. If approved, the platform could extend stock trading beyond conventional market hours and tie equity markets more closely to digital assets.
The filing does not guarantee an immediate launch. The companies must still meet the SEC's requirements and navigate the issuer objection period. Whether any of the 63 targeted companies object during the 30-day window, and how quickly the venture satisfies the SEC's conditions, will be the near-term markers to watch. The outcome could serve as an early test of whether tokenized stocks can operate at scale within the U.S. securities market.
