Joint venture of OKX and NYSE parent ICE files for 24/7 tokenized U.S. stock trading

OKXICE, the joint venture formed by crypto exchange OKX and Intercontinental Exchange (ICE), has filed a notice with the U.S. Securities and Exchange Commission indicating plans to operate a trading venue for tokenized U.S. equities. The venture, co-chaired by former New York governor Andrew Cuomo, said it intends to begin by offering blockchain-based shares for more than 60 companies listed on U.S. exchanges. Tokenized stocks are digital representations of conventional shares on a blockchain, enabling trading outside standard market hours and potentially faster settlement than traditional venues. Under the arrangement described by OKXICE, the tokenized instruments would preserve corporate rights such as dividends and voting, aligning on-chain tokens with holders' economic and governance entitlements. The proposal relies on the SEC's new temporary "Innovation Exemption," published Sept. 17, 2026, which permits qualifying venues to trade tokenized U.S. stocks using automated market makers and liquidity pools for a five-year period. The exemption includes conditions: tokenized shares must mirror regular-stock rights and issuers whose shares are targeted for tokenization have a 30-day window to object. OKXICE's plan to operate onshore contrasts with the existing market where crypto exchanges have already offered tokenized U.S. stocks to non-U.S. customers under offshore rules. OKX currently lists more than 70 tokenized U.S.-stock tickers issued outside the U.S.; the broader tokenized-stock market is estimated at about $3.2 billion and had grown roughly 15% in the prior month, according to RWA.xyz. The venture's timeline for launch depends on the outcome of the issuer objection period and further regulatory steps.