OKXICE LLC, a joint venture between crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange, has notified the U.S. Securities and Exchange Commission of plans to operate a tokenized-stock trading venue in the United States. The notification was filed on Oct. 4.

The filing pairs a traditional exchange operator with a crypto platform inside a regulatory framework built for on-chain securities trading. Under the proposal, the platform would initially offer tokenized shares of 63 NYSE-listed companies, including Nvidia, Apple, Tesla and Coinbase, and would enable trading around the clock. According to Bloomberg, issuers would receive 30 days to object before their shares begin trading. Eligible tokenized stocks would retain the shareholder rights tied to traditional shares.

OKXICE Targets 63 U.S. Stocks

The proposed venue would operate as a Tokenized Securities Venue under the SEC's Innovation Exemption. The initial roster includes Nvidia, Apple, Microsoft and Tesla, alongside Strategy, Coinbase, Circle and BitGo. Every stock in the initial lineup trades on the NYSE, which ICE has owned since 2013 — meaning the exchange group behind the venue also owns the exchange where the underlying shares are listed.

Andrew Cuomo, co-chair of OKXICE, said the platform would include more than 60 U.S.-listed companies.

The proposed system would use permissioned Uniswap v4 liquidity pools deployed on XLayer, OKX's layer-2 network. Each tokenized stock would pair with USDC, USDG or USDT, connecting tokenized securities with stablecoin-based liquidity.

The venture took shape after OKX and ICE formed a 50-50 partnership in June. At the time, the companies said the joint venture would develop infrastructure for tokenized financial products — a structure that places a legacy exchange group and a global crypto exchange on equal footing in building regulated tokenized-market infrastructure.

SEC Framework Sets Trading Conditions

The filing follows the SEC's September introduction of a five-year Innovation Exemption, which allows qualifying venues to trade tokenized National Market System stocks on-chain. Eligible tokens must preserve the shareholder rights attached to traditional shares, including dividends and voting privileges.

The framework also permits trading through permissioned automated market makers and liquidity pools, and requires that issuers receive an opportunity to object before trading begins. The exemption remains available through Sept. 17, 2031.

Separately, OKX already offers tokenized U.S. stocks internationally under Regulation S. Those existing products remain unavailable to U.S. persons and provide price exposure without direct shareholder rights, unlike securities traded under the new framework.

OKXICE Moves Toward U.S. Launch

OKX and ICE are pursuing separate regulatory requirements for the proposed U.S. platform, and the joint venture must still satisfy applicable conditions before operations can begin.

The filing also differs from OKX's existing international tokenized-stock offerings, which rely on underlying shares held by third-party issuers and operate outside the U.S. market. The proposed OKXICE venue, by contrast, would operate within the SEC's new framework.

The platform would run continuously rather than follow the traditional 9:30 a.m. to 4 p.m. ET weekday session of U.S. stock exchanges. Remaining steps include the 30-day issuer objection period and other regulatory requirements, and the proposed venue remains subject to those conditions before trading can start. Which of the 63 companies reach the platform — and when trading begins — will depend on whether issuers raise objections during the 30-day window and on how quickly the outstanding regulatory conditions are cleared.