CoinDesk
OKXICE has notified the SEC of plans for a U.S. venue offering blockchain-based shares in more than 60 publicly listed companies, with trading around the clock and faster settlement. The 50-50 joint venture between crypto exchange OKX and Intercontinental Exchange, the NYSE's parent, says tokenized shares would preserve the dividends and voting rights of traditional stock.
Why it matters
The proposal would move tokenized stocks into a regulated U.S. venue, building on a five-year SEC Innovation Exemption issued on Sept. 17. The exemption allows qualifying venues to trade tokenized U.S. stocks through automated market makers and liquidity pools, subject to safeguards.
Companies whose shares are proposed for tokenization would have 30 days to object. The launch also depends on other regulatory steps, so the filing is not a confirmation that trading will begin on a particular date.
Market impact
OKX already lists more than 70 tokenized stock tickers offshore, where U.S. customers cannot buy them. The global tokenized stock market is valued at about $3.2 billion, up 15% over the past month, according to RWA.xyz.
A U.S. launch would put the joint venture in a position to offer tokenized shares under domestic rules and with the same stated shareholder rights as regular stock. The objection period and remaining regulatory steps will determine whether the proposed venue can proceed.
Frequently asked questions
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How many companies could be included in OKXICE's proposed venue?
The venue would initially offer blockchain-based shares of more than 60 U.S.-listed companies.
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What rights would the proposed tokenized shares carry?
The plan says tokenized shares would preserve the dividends and voting rights of traditional shares.
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What does the SEC exemption allow qualifying venues to do?
The five-year Innovation Exemption allows qualifying venues to trade tokenized U.S. stocks through automated market makers and liquidity pools.
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How can companies object to their shares being tokenized?
Companies whose shares are proposed for tokenization would have 30 days to object.
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Why is OKXICE's proposal a potential shift for U.S. investors?
OKX lists more than 70 tokenized stock tickers offshore, where U.S. customers cannot buy them. The proposal seeks to bring tokenized stock trading to a regulated U.S. venue.
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