OKX, NYSE parent file to launch tokenized US stock platform
OKXICE LLC, a 50-50 joint venture between crypto exchange OKX and Intercontinental Exchange Inc. (parent of the New York Stock Exchange), notified the U.S. Securities and Exchange Commission of plans to launch a tokenized securities venue under the SEC’s innovation exemption. The platform would list tokenized shares for more than 60 U.S.-listed companies and operate continuously using permissioned Uniswap v4 liquidity pools on XLayer.
Why It Matters
The filing applies the SEC’s recently introduced temporary innovation exemption to a high-profile joint venture involving the NYSE parent, potentially expanding on-chain trading of tokenized National Market System stocks. If approved, the venue would demonstrate mainstream financial firms deploying blockchain-based mechanisms for trading regulated equities.
Key Facts
- Filing entity: OKXICE LLC (joint venture of OKX and Intercontinental Exchange Inc.)
- JV split: 50-50 joint venture formed in June
- Regulatory basis: Intends to operate under the SEC’s temporary innovation exemption (issued in September)
- Public notice date: Oct. 4 (public notice lists proposed symbols)
- Number of proposed symbols: 63 proposed stock symbols listed in the public notice
OKXICE LLC, the joint venture formed equally by cryptocurrency exchange operator OKX and Intercontinental Exchange Inc., has informed the U.S. Securities and Exchange Commission of its intention to operate a tokenized securities venue (TSV) under the SEC’s new innovation exemption. The companies created the joint venture in June to build infrastructure for tokenized financial products, and the Oct. 4 public notice lists 63 proposed stock symbols to be made available on the platform.
The proposed lineup includes major U.S. technology and consumer names such as Nvidia, Apple, Microsoft and Tesla, alongside crypto-related firms named in the notice, including Strategy, Coinbase, Circle and Bitgo. According to OKXICE co-chair Andrew Cuomo, the venue would host tokenized versions of National Market System (NMS) stocks enabled by the SEC’s temporary exemption, which permits limited onchain trading of tokenized U.S. equities on certain venues.
Operationally, the OKXICE platform is planned to run 24 hours a day, seven days a week, employing permissioned Uniswap v4 liquidity pools deployed on XLayer. The filing states each tokenized stock would be paired with one of three dollar-pegged stablecoins: USDC, Global Dollar (USDG) or USDt (USDT). The innovation exemption allows TSVs to offer permissioned trading of tokenized NMS stocks via automated market makers and liquidity pools, subject to the SEC’s temporary terms.
The filing represents an early, high-profile application of the SEC’s tokenized-stock rules by established market infrastructure participants. OKXICE’s notice is a procedural step signaling how a collaboration between a major cryptocurrency exchange and the NYSE parent intends to use onchain liquidity mechanisms to facilitate trading in tokenized shares, if the venue satisfies applicable regulatory conditions.
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