OKX Files With SEC to Launch U.S. Tokenized Stock Venue Through ICE Joint Venture
Key Takeaways
- •The joint venture OKXICE LLC, formed by OKX and NYSE parent ICE, notified the SEC on October 4 of its intent to operate a Tokenized Securities Venue initially covering 63 NYSE-listed companies.
- •The SEC's 'Innovation Exemption,' introduced in September 2026, allows qualified platforms to trade tokenized stocks using liquidity pools and automated market makers, but only on a temporary basis of up to five years.
- •Companies whose shares are tokenized may opt out within 30 days, and tokenized shares must carry the same dividend and voting rights as conventional stocks.
- •The filing builds on ICE's March 2026 investment in OKX, which valued the crypto exchange at $25 billion, with former New York Gov. Andrew Cuomo serving as co-chair of the venture.
- •OKX already lists more than 70 tokenized stock tickers under offshore rules unavailable to U.S. investors, while the global tokenized stock market has grown 15% in the past month to roughly $3.2 billion in total value.
Crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have moved to launch a U.S. venue for trading tokenized stocks under new Securities and Exchange Commission rules. OKXICE LLC, their joint venture, notified the SEC on Sunday, Oct. 4, of its intent to operate a Tokenized Securities Venue, with the initial notice covering 63 U.S.-listed stocks. The filing came weeks after the SEC introduced its "Innovation Exemption."
OKX Plan Covers 63 NYSE-Listed Companies
On Sunday, October 4, the crypto exchange filed with the SEC to launch a platform for tokenized stocks — digital versions of publicly listed firms that trade on blockchain infrastructure. Such tokens are designed to mirror the underlying shares and trade around the clock, in contrast to conventional exchanges that operate only during set daily sessions. Through OKXICE LLC, the venture between OKX and NYSE parent ICE is seeking approval to offer tokenized shares of an initial 63 NYSE-listed companies. Under the SEC's new framework, issuers have 30 days to opt out before trading can begin, so the initial lineup could shrink if any of the 63 companies opt out during that window.
The filing builds on a partnership formed earlier this year. In March 2026, ICE acquired a stake in OKX in a transaction that valued the crypto exchange at $25 billion. The companies also agreed to collaborate on U.S.-regulated crypto futures. The OKXICE venture combines OKX's blockchain infrastructure with ICE's market technology.
Former New York Gov. Andrew Cuomo will serve as co-chair of the joint venture. In a message on the X platform, Cuomo wrote: "This is a landmark step toward a truly global, 24/7 Wall Street — and toward keeping the future digital finance anchored here in the United States. The digital asset revolution is already transforming our financial system. Tokenized securities are part of what comes next."
SEC Clears the Way for Tokenized Stock Trading
In September 2026, the SEC introduced a new rule dubbed the "Innovation Exemption" that allows qualified platforms to offer trading of tokenized stocks using liquidity pools and automated market makers (AMMs). The exemption is temporary for now and extends for up to five years, leaving the long-term regulatory treatment of tokenized U.S. stocks unsettled. It permits qualifying venues to conduct limitedchain trading of tokenized National Market System stocks.
The new rules are expected to intensify competition among crypto firms seeking to tokenize U.S. stocks, with companies able to pursue different business models as they vie for token market share. According to a Bloomberg report, some firms may partner directly with public companies to issue tokenized shares in U.S. crypto markets, while others could offer tokens created by third parties without direct involvement from the underlying stock issuers — meaning the OKXICE venture is entering a field where rivals may take structurally different routes to the same market.
The tokenized-stock framework comes with guardrails. Tokenized shares must carry the same rights as conventional stocks, including dividend and voting rights. Companies whose shares are being tokenized will also have 30 days to object to the process.
Tokenized Stock Market Expands Rapidly
OKX already operates a tokenized stock business outside the United States. The exchange currently lists more than 70 tokenized stock tickers, but they are issued under offshore rules and therefore unavailable to U.S. investors — a separate regulatory regime from the one the proposed U.S. venue would operate under. Despite that limitation, the tokenized stock market has expanded rapidly, with total value reaching approximately $3.2 billion, up 15% over the past month, according to data from RWA.xyz, which tracks tokenized real-world assets. That total remains small relative to conventional equity markets, but its pace of growth shows how quickly tokenized equities are gaining traction.
This article is for informational purposes only and does not constitute financial or investment advice. Tokenized securities remain subject to regulatory, technology, liquidity and market-structure risks.
Source: The Market Periodical
