OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have set November 23, 2026, as the planned launch date for OKXICE, a joint platform for trading tokenized stocks and exchange-traded funds (ETFs), according to Unchained Crypto.

The platform, formally called a Tokenized Securities Venue (TSV), is scheduled to open at 9 a.m. Eastern Time. It would allow eligible U.S. investors to trade blockchain-based versions of real stocks and ETFs directly from a crypto wallet under a new experimental framework established by the U.S. Securities and Exchange Commission (SEC).

Joint venture and regulatory framework

OKXICE is a 50-50 joint venture between crypto exchange OKX and ICE, the NYSE’s parent company, according to The Block. The companies officially formed the venture in June 2026, after ICE invested in OKX at a $25 billion valuation in March 2026.

The platform is co-chaired by former New York Governor Andrew Cuomo and Trabue Bland. Cuomo described the project’s objective by saying, “The future of finance is onchain, and we have an opportunity to build it here in America.”

According to The Block, OKXICE would be the second venue to launch under the SEC’s Innovation Exemption. Issued on September 17, 2026, the exemption is a five-year experimental framework that allows qualifying venues to list and trade tokenized U.S. securities using automated market makers (AMMs) and blockchain infrastructure without registering as traditional exchanges. The structure makes venues such as OKXICE among the first operational tests of whether tokenized securities can trade under U.S. market rules without conventional exchange registration.

The framework requires tokenized shares to preserve full shareholder rights, including voting and dividends. OKXICE filed its notice with the SEC in October 2026.

At launch, access will be limited to eligible U.S. OKX customers who hold a CeDeFi Wallet. The wallet combines centralized-account features with on-chain capabilities. Trading is expected to take place through permissioned Uniswap v4 AMM pools running on X Layer, OKX’s Ethereum Layer 2 network.

An AMM is an automated trading system commonly used in decentralized finance (DeFi). Rather than matching buyers and sellers through a conventional order book, it uses a mathematical formula to set prices. That model differs from the order-book execution used on registered exchanges such as the NYSE. Securitize will provide the tokenization infrastructure used to create blockchain-based versions of the securities.

Planned assets and issuer objections

The planned opening lineup includes more than 70 tokenized assets, according to Unchained Crypto. The list includes shares in Coinbase, Circle, Robinhood, Strategy and BitGo. Strategy’s offering is expected to include both common stock and preferred shares listed under the ticker STRC. The lineup also includes 59 Direxion leveraged ETFs. Leveraged ETFs are funds that use derivatives and borrowed capital to seek amplified daily returns of an underlying index.

However, not every company whose shares were proposed for the platform agreed to participate. The Block reported that 67 companies objected to having their shares tokenized on OKXICE. Those companies include Apple, Amazon, Tesla, Meta, Microsoft, Nvidia, JPMorgan Chase and Goldman Sachs.

Under the SEC’s Innovation Exemption, issuers must be notified and given an opportunity to opt out, according to The Block. The objections indicate that some large public companies do not want their equity represented on a blockchain operated by a crypto exchange, even though the platform is backed by ICE, a major traditional market operator.

The companies included in the initial lineup, including Coinbase, Circle and Robinhood, are crypto-native businesses with a direct interest in the development of tokenized financial products.

What tokenized stocks represent

A tokenized stock is a blockchain-based token designed to represent ownership in shares of a real company. Supporters of the model say placing stock exposure on a blockchain could enable around-the-clock trading, near-instant settlement and direct custody through a crypto wallet. In conventional U.S. equity markets, trades settle on a next-business-day cycle through clearing intermediaries.

The legal meaning of a tokenized stock depends on the product’s structure and jurisdiction. Ownership rights, shareholder rights, custody arrangements and regulatory protections can differ depending on how the token is issued and managed.

Coinbase Chief Executive Officer Brian Armstrong, whose company’s shares are included in the planned OKXICE lineup, commented on the broader trend in a post on X: “All asset classes are moving onchain. Tokenized stocks and stablecoins (which are really just tokenized fiat currency) are growing fast, with more to come.”

Industry concerns

The SEC framework has drawn opposition from some traditional financial market participants. Nasdaq, which is pursuing its own tokenization initiative through a separate partnership with crypto exchange Kraken, opposes the exemption framework, according to The Block.

Nasdaq Chief Legal Officer John Zecca warned that the exemption allows tokenized securities to trade outside the regulated National Market System. He said this could fragment market liquidity, according to The Block. The positions capture a split among major market operators over whether tokenized securities should trade inside the regulated National Market System or develop under parallel experimental frameworks.

The planned November 23 launch will therefore test a hybrid model that combines a traditional exchange operator, a crypto exchange, blockchain-based settlement and an SEC experimental framework. The initial venue will use AMM pools rather than a traditional order book, operate on OKX’s corporate Ethereum Layer 2 network and be available only to a limited group of eligible U.S. customers.

Whether the platform can operate at scale while preserving the shareholder rights and regulatory protections required by the exemption will depend on its implementation and oversight. The launch is expected to provide an early indication of how tokenized stock trading functions within the framework. Near-term markers include whether the opening lineup shifts as additional issuers respond to the opt-out process, and whether the venue’s access model remains limited to eligible CeDeFi Wallet holders after launch.