Tokenized Securities Trading Venue by OKXICE Under SEC Exemption

According to The Block, OKXICE—the joint venture formed by OKX and Intercontinental Exchange, the parent company of NYSE—has informed the U.S. Securities and Exchange Commission of its intention to launch a trading venue for tokenized securities under the agency’s innovation exemption.

What OKXICE Told the SEC

In a notice dated Sunday and reported by The Block, OKX said the new venue is designed for permissioned, on-chain trading of U.S. tokenized stocks on the X Layer. The filing covers more than 60 U.S.-listed companies, and issuers named in the notice will have 30 days to opt out.

As The Block reported, this step comes after the SEC granted a five-year exemption last month permitting certain venues to trade tokenized versions of U.S.-listed stocks without having to register as exchanges. The list of firms OKXICE intends to add for tokenized stock trading includes Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Walmart, Netflix, Coca-Cola, Goldman Sachs, Boeing, Cisco, IBM, Coinbase, Robinhood, Palantir, AMD, Circle, Reddit and SpaceX.

Andrew Cuomo, OKXICE’s cochair and a former New York governor, said in a statement shared with The Block that the venture marks “a landmark step toward a truly global, 24/7 Wall Street — and toward keeping the future of digital finance anchored here in the United States.” He added, “The digital asset revolution is already transforming our financial system. Tokenized securities are part of what comes next. And we’re just getting started.”

Star Xu, founder and CEO of OKX, said tokenization could make public markets “more open, seamless and always available,” adding that “the future of markets is real ownership, onchain,” and that “full shareholder rights are what make that possible,” per the same report.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.