OKX and NYSE Parent ICE File for 24/7 Tokenized U.S. Stock Trading
OKXICE, a 50-50 joint venture of OKX and Intercontinental Exchange, notified the SEC on October 4 that it will launch a 24-hour tokenized securities venue under the SEC's Innovation Exemption, initially covering 63 U.S.-listed stocks including Nvidia, Tesla, Apple, and Microsoft. Trades will run through Uniswap v4 liquidity pools on XLayer blockchain, with participants requiring identity verification. The platform represents the first major Wall Street institution entering tokenized equity trading at scale.
OKXICE, a joint venture formed in June by OKX and Intercontinental Exchange (parent of the New York Stock Exchange), notified the SEC on October 4 of its intent to operate a continuous, 24-hour tokenized securities venue under the SEC's Innovation Exemption, which took effect September 17. The filing names 63 U.S.-listed stocks eligible for tokenization, including Nvidia, Tesla, Apple, Microsoft, JPMorgan, Goldman Sachs, SpaceX, Coinbase, Circle, Strategy, Robinhood, BitGo, and Securitize.
The platform will trade tokenized stocks in pairs against three stablecoins: USDC, USDG, or USDT. Trades execute through permissioned Uniswap v4 liquidity pools on XLayer, a layer-2 blockchain, with every transaction checked by a custom smart contract. Only wallets holding a non-transferable soulbound token, issued after OKX's U.S. entity completes identity verification, anti-money laundering checks, and sanctions screening, can trade or supply liquidity.
The tokens themselves are created and held by an unaffiliated third party known only as "the Tokenizer," which maintains one-to-one backing through registered broker-dealer custody of the underlying shares. Token holders retain the same dividends and voting rights as conventional shareholders, according to the filing. ICE and OKX formed the 50-50 venture three months after ICE took a minority stake in OKX at a $25 billion valuation in March.