OKXICE, the joint venture formed by crypto exchange OKX and Intercontinental Exchange (ICE), owner of the New York Stock Exchange, has notified the U.S. Securities and Exchange Commission (SEC) of plans to launch a U.S. venue for trading tokenized equities.
The proposed platform would operate under the SEC’s new Innovation Exemption, potentially allowing investors to trade blockchain-based versions of U.S. stocks around the clock. Former New York Gov. Andrew Cuomo, co-chair of OKXICE, announced the initiative on X.
More than 60 companies listed on U.S. stock exchanges are expected to be represented when the venue launches.
Cuomo said the partnership brings together traditional market infrastructure and blockchain technology. He told CoinDesk that the venture aims to demonstrate how continuously operating onchain markets could improve the efficiency and accessibility of trading and settlement while extending their reach globally.
Tokenized stocks are digital representations of conventional shares recorded on a blockchain. Unlike traditional equities, which trade during set market hours, tokenized versions can operate on blockchain infrastructure outside those windows and may support faster settlement.
The initiative follows an SEC rule unveiled Sept. 17. The five-year “Innovation Exemption” allows qualifying venues to experiment with tokenized U.S. stocks using automated market makers and liquidity pools.
The framework includes investor protections. Tokenized shares must maintain the same rights as their traditional counterparts, including voting and dividend rights. Listed companies also receive 30 days to object to having their shares tokenized.
OKX and ICE established the venture as a 50-50 partnership in June to develop infrastructure for tokenized financial products.
ICE’s role gives the project a direct connection to one of the largest operators in traditional U.S. markets. Crypto exchanges have already offered tokenized U.S. equities, but those products have largely been aimed at investors outside the country.
OKX lists more than 70 tokenized stock tickers through offshore arrangements, making them unavailable to U.S. investors. The market has continued to expand, with tokenized stocks reaching approximately $3.2 billion and gaining 15% over the past month, according to RWA.xyz.
OKXICE now intends to bring tokenized equity trading into the U.S. under a regulated structure, while preserving the dividend and voting rights attached to the underlying shares.
There is no confirmed launch date yet. The timeline will depend on the 30-day company objection period and additional regulatory requirements. Cuomo signaled that the project is still in its early stages, saying, “And we’re just getting started.”
