OKX and ICE Launch Tokenized NYSE Stocks

What's being built and who's behind it

OKX wants the green light to run a platform for tokenized stocks and put the paperwork in on Sunday. The entity on the application is OKXICE LLC, a JV joining OKX with Intercontinental Exchange Inc., which owns the New York Stock Exchange. The plan: request approval to offer tokenized shares referencing an initial set of 63 companies listed on the NYSE.

The setup blends OKX's blockchain plumbing with ICE's market tech. Andrew Cuomo, the former New York governor, is co-chairing the venture.

The new rulebook and timeline

The SEC opened a limited-time channel last month for crypto venues to support blockchain-based versions of securities in the US. Under that framework, trading can only kick off after a 30 day notice period in which issuers can choose not to participate, and OKXICE's launch also hinges on meeting additional requirements. The agency had worked on this "innovation exemption" for more than a year, initially aiming for a May reveal, but it held back while talks continued around the Clarity Act. The exemption ultimately dropped days after the Senate declined to advance that bill, a measure closely watched by the crypto sector.

Tokenized equities would blur the line between crypto rails and traditional markets. Market Briefs covers both free every morning.