TheBlock
OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange, plans to launch a permissioned, on-chain trading venue for tokenized US stocks on X Layer. The venture notified the SEC of its intent to operate under an innovation exemption. The platform plans to cover more than 60 US-listed companies, and issuers will have 30 days to opt out.
Why it matters
The proposal follows a five-year SEC exemption issued last month that allows certain venues to trade tokenized versions of US-listed stocks without registering as exchanges. That framework creates a route for securities trading to move on-chain while remaining within a defined regulatory arrangement.
OKXICE's planned lineup includes major companies such as Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Coinbase, Robinhood, Circle and Reddit, as well as SpaceX. OKX founder and CEO Star Xu said tokenization could make public markets more open and continuously available, while emphasizing real ownership and shareholder rights.
Market impact
The venue is not yet described as live: OKXICE has notified the SEC of its intention to launch. If it proceeds, the plan would connect a major crypto exchange operator and the parent of the NYSE in a bid to offer on-chain access to a broad roster of US stocks.
The key details to watch are how the permissioned venue handles ownership rights and issuer opt-outs, and how the SEC's exemption framework applies in practice. Andrew Cuomo, OKXICE's cochair and a former New York governor, called the initiative a step toward round-the-clock global markets.
Frequently asked questions
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How many US-listed companies does OKXICE plan to include?
The proposed venue plans to cover more than 60 US-listed companies. Issuers will have 30 days to opt out.
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What SEC framework does the proposed venue plan to use?
OKXICE notified the SEC that it intends to launch under an innovation exemption. The SEC issued a five-year exemption last month for certain venues trading tokenized versions of US-listed stocks without registering as exchanges.
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Where would OKXICE's tokenized stock venue operate?
The proposed venue is designed for permissioned, on-chain trading of US tokenized stocks on OKX's X Layer.
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Which companies are named among the planned stock offerings?
The proposed lineup includes Nvidia, Apple, Microsoft, Amazon, Tesla, Coinbase, Robinhood, Circle, Reddit and SpaceX, among others.
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Has OKXICE launched the stock trading venue?
The announcement describes an intended launch. OKXICE has notified the SEC, but the venue is not described as live.
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