OKX-ICE Tokenized Stock Venue Sets Launch, Turning to Crypto Companies After Big Tech Opts Out

In brief

• OKXICE, the joint venture between OKX and NYSE owner ICE, will open its tokenized securities venue on Nov. 23 with more than 70 assets, including 59 Direxion ETFs.
• Launch issuers include Coinbase, Circle, Robinhood and Strategy, crypto-friendly companies that didn’t appear among the 67 objectors as of Nov. 5.
• Securitize will provide the tokenization, with each token backed one-for-one by a real share, and access is limited to eligible U.S. OKX customers.

After weeks of rejections from corporate America, OKX and ICE’s tokenized stock venue has found its launch lineup: crypto’s own public companies.

OKXICE said Wednesday that its Tokenized Securities Venue will open Nov. 23, letting eligible U.S. customers trade tokenized securities around the clock in the OKX app.

More than 70 assets are expected to be listed, including securities from Coinbase, Circle, Robinhood, Strategy, BitGo, Securitize and Better.com, plus 59 ETFs from Direxion. Strategy will also list its preferred stocks.

That’s a very different roster from the one the venue started with. As of its Nov. 5 notice, 67 companies, including every member of the “Magnificent Seven” tech giants, had objected to having their shares traded on the platform. Coinbase, Robinhood and Strategy were notably absent from that list, and all three are now among the venue’s launch issuers.