WuBlockchain
OKX has filed with the SEC to launch a tokenized stock trading platform through OKXICE LLC, its joint venture with Intercontinental Exchange, the parent company of the New York Stock Exchange. The venture plans to offer shares in an initial 63 NYSE-listed companies, giving each issuer 30 days to opt out before trading begins.
Why it matters
The filing follows a recent SEC temporary exemption framework that cleared a path for blockchain-based securities to trade in the U.S. Those digital securities must carry full shareholder benefits, including dividends and voting rights.
Market impact
The proposal links a major crypto exchange with the parent of the NYSE in an effort to bring listed shares onto blockchain rails. A launch depends on the opt-out period and other requirements, as well as the necessary approval.
Frequently asked questions
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Which companies would the OKXICE platform initially cover?
The proposal covers shares in an initial 63 NYSE-listed companies.
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How can an issuer prevent its shares from being traded?
Each issuer would have 30 days to opt out before trading begins.
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What shareholder rights must blockchain-based securities include?
Under the SEC's temporary exemption framework, they must include full shareholder benefits, including dividends and voting rights.
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Which companies formed OKXICE LLC?
OKXICE LLC is a joint venture between OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange.
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What must happen before the proposed platform can launch?
The launch depends on completing the 30-day opt-out period and meeting other requirements.
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