OKXICE LLC, a joint venture between cryptocurrency exchange operator OKX and New York Stock Exchange parent Intercontinental Exchange Inc., has filed with the United States Securities and Exchange Commission (SEC) to launch a tokenized stock trading platform.

The joint venture has notified the SEC that it intends to operate a tokenized securities venue (TSV) under the regulator's newly introduced innovation exemption. Under that framework, TSVs may offer permissioned trading of tokenized National Market System (NMS) stocks through automated market makers and liquidity pools.

The platform will include more than 60 companies listed on US stock exchanges, according to OKXICE co-chair and former New York governor Andrew Cuomo. "The digital asset revolution is already transforming our financial system. Tokenized securities are part of what comes next," he said in a post on X.

A public notice dated Oct. 4 (PDF) lists 63 proposed stock symbols. The lineup includes technology companies Nvidia, Apple, Microsoft and Tesla, alongside crypto-focused firms such as Strategy, Coinbase, Circle and Bitgo, combining large-cap US equities with issuers closely tied to the digital asset economy.

Around-the-clock trading with stablecoin pairs

The OKXICE platform plans to operate 24 hours a day, seven days a week, using permissioned Uniswap v4 liquidity pools deployed on XLayer. Uniswap is a widely used decentralized exchange protocol, while XLayer is a layer-2 network developed by OKX. That schedule would distinguish the venue from traditional US equity exchanges, which trade during fixed weekday sessions rather than around the clock.

Each tokenized stock would be paired with one of three US dollar-pegged stablecoins: USDC (USDC), Global Dollar (USDG) or USDt (USDT). Stablecoins are blockchain tokens designed to maintain parity with the US dollar, allowing tokenized assets to trade and settle continuously outside traditional market hours.

Joint venture formed in June

OKX and Intercontinental Exchange formed their 50-50 joint venture in June to build infrastructure for tokenized financial products. The alliance pairs an operator of traditional exchanges with a crypto-native trading platform, placing established market infrastructure and crypto trading technology behind a single tokenization effort. Tokenized stocks are blockchain-based representations of traditional equities that can be transferred and traded onchain.

The filing follows a September move by the SEC, which issued a temporary exemption allowing limited trading of tokenized US stocks on certain onchain venues. With the innovation exemption newly introduced, the notice offers an early indication of how firms plan to use the framework to bring tokenized equities to market.

Source: Cointelegraph — OKX, NYSE Parent File for Tokenized US Stock Platform