Companies
OKX and NYSE Owner Launch 24/7 Tokenized Stock Trading Platform
Intercontinental Exchange (ICE) and OKX are collaborating to create a market for tokenized US stocks that will operate around the clock. Announced on October 4, their joint venture, OKXICE, has filed with the Securities and Exchange Commission (SEC) to launch a Tokenized Securities Venue under the regulator's new Innovation Exemption.
The proposed platform aims to support 63 securities, including major companies like Nvidia, Tesla, Apple, Microsoft, JPMorgan, Goldman Sachs, Coinbase, and Circle. This initiative will allow tokenized shares to continue trading and adjusting prices even when traditional markets are closed, potentially providing investors with real-time price references during off-hours.
OKXICE co-chair and former New York Governor Andrew Cuomo emphasized that this represents a significant step toward a global, 24/7 trading environment. OKX CEO Star Xu described the filing as a valuable market-structure experiment, highlighting the shift of Wall Street towards blockchain technology.
The trading mechanism will differ from traditional exchanges, as prices for tokenized stocks will be determined by the ratio of assets in automated market maker (AMM) liquidity pools, rather than relying on prices from the NYSE or Nasdaq. This could allow trading to continue during weekends, enabling investors to respond to market-moving news even when traditional markets are closed.
However, the SEC has set limits on the number of securities and trading volumes under this temporary exemption, which runs until September 17, 2031. The maximum number of Tier 1 securities is capped at 75 symbols, and individual stock trading cannot exceed 0.25% of its prior month's average daily volume.
To access the platform, users must pass identity verification and anti-money laundering checks. The trading will utilize Uniswap v4 liquidity pools on OKX's blockchain, allowing tokenized stocks to trade against stablecoins like USDC, USDT, or USDG. This structure aims to combine regulated securities ownership with decentralized finance mechanisms, ensuring that investors retain shareholder rights while using crypto-native infrastructure.
FAQ
What is the OKXICE platform?
The OKXICE platform is a joint venture between Intercontinental Exchange (ICE) and OKX that aims to create a market for tokenized US stocks, allowing for 24/7 trading of these securities.
What types of securities will be available on the platform?
The platform plans to support 63 securities, including major companies like Nvidia, Tesla, Apple, Microsoft, JPMorgan, Goldman Sachs, Coinbase, and Circle.
How will prices for tokenized stocks be determined?
Prices for tokenized stocks will be determined by the ratio of assets in automated market maker (AMM) liquidity pools, rather than relying on traditional exchange prices from the NYSE or Nasdaq.
What are the SEC's limitations on the trading platform?
The SEC has set a cap of 75 symbols for Tier 1 securities and limits individual stock trading to no more than 0.25% of its prior month's average daily volume under the temporary exemption, which lasts until September 17, 2031.
What requirements must users meet to access the platform?
Users must pass identity verification and anti-money laundering checks to access the OKXICE platform.