OKX and ICE joint venture files with SEC for 24/7 tokenised US stock trading

OKXICE, the 50-50 joint venture formed by crypto exchange OKX and Intercontinental Exchange (ICE), the parent of the New York Stock Exchange, has notified the US Securities and Exchange Commission of plans to launch a tokenised equity trading venue. Former New York Governor Andrew Cuomo, co-chair of the venture, confirmed the filing publicly. The venue would initially cover blockchain-based shares of more than 60 US-listed companies, with round-the-clock trading and accelerated settlement while preserving dividend and voting rights.

The filing leans on an SEC “Innovation Exemption” issued on 17 September, which permits qualifying venues to trade tokenised US stocks through automated market makers and liquidity pools. The exemption carries a five-year horizon and requires that tokenised shares replicate the rights of their underlying stock. A 30-day window allows listed companies to object before their shares are tokenised, and further regulatory steps must be completed before the venue can go live.

ICE’s participation is a meaningful signal: NYSE-brand involvement suggests institutional capital-markets infrastructure is treating tokenised equity as a near-term operating reality rather than a research exercise. Crypto platforms, OKX included, have offered tokenised US stocks for some time, but only to customers outside the United States, where offshore rules permit issuance without access for domestic investors. OKXICE aims to change that by bringing the model onshore under an explicit regulatory carve-out. The tokenised stock market stood at roughly $3.2 billion as of the filing date, up around 15% in the prior month according to RWA.xyz, suggesting demand exists ahead of any regulated domestic venue.

The critical path now runs through the objection period and any remaining SEC requirements. How many of the targeted 60-plus companies actively contest tokenisation of their shares will determine the breadth of the opening product set, and the five-year sunset on the exemption means the venture will need to convert it into durable regulatory footing before the clock runs out.