OKXICE Seeks Approval For 24/7 Tokenized Stock Trading
RWA Signal Insight
StocksOKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), has filed with the SEC to launch a platform for 24/7 trading of tokenized U.S. stocks. The proposed Tokenized Securities Venue (TSV) aims to facilitate blockchain-based trading for 63 NYSE-listed companies, including major tech firms like Nvidia, Apple, Microsoft, and Tesla. This initiative leverages the SEC’s new five-year “Innovation Exemption,” which permits qualifying venues to trade tokenized securities without full traditional exchange registration. By combining OKX’s digital asset infrastructure with ICE’s established financial market capabilities, the venture seeks to modernize equity markets. Companies listed on the platform will have a 30-day window to object to their inclusion. This development reflects a broader industry trend toward continuous, globalized trading hours, aligning with similar efforts by the NYSE, Nasdaq, and the London Stock Exchange. The move represents a significant step in integrating traditional financial assets into blockchain-based market structures under a regulated framework.
Key points
- OKXICE filed for a Tokenized Securities Venue to enable 24/7 U.S. stock trading.
- The platform targets 63 NYSE-listed stocks, including Nvidia, Apple, Microsoft, and Tesla.
- The SEC's five-year Innovation Exemption allows trading without traditional exchange registration.
- ICE, parent company of the NYSE, is partnering with OKX to provide market infrastructure.
Background
Intercontinental Exchange (ICE) is a global provider of data, technology, and market infrastructure, most notably serving as the parent company of the New York Stock Exchange. Tokenized securities represent traditional financial assets, such as stocks or bonds, that are represented as digital tokens on a blockchain, allowing for programmable ownership and potentially faster settlement times.