OKX and NYSE Parent ICE File Joint Venture for 24/7 Tokenized US Stock Trading
OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have filed with the US Securities and Exchange Commission to launch a joint venture offering tokenized trading of US-listed stocks, according to Cointelegraph, CoinDesk, The Block, and Decrypt.
The venture, named OKXICE, has notified the SEC of its plan to operate a tokenized securities trading platform under the agency’s recently introduced innovation exemption, according to The Block.
The filing lists more than 60 US-listed companies for tokenized trading, including Nvidia and SpaceX, according to Cointelegraph and Decrypt. Decrypt reports that the tokenized shares would be paired with stablecoins rather than traditional cash settlement.
CoinDesk reports the platform is designed to support round-the-clock, 24/7 trading of these tokenized equities, breaking from the standard market hours of traditional US exchanges.
The move pairs one of the largest crypto exchanges, OKX, with the operator of the NYSE, positioning the joint venture to test how tokenized securities can operate under a new regulatory framework meant to accommodate blockchain-based market structures, according to the sources.
Sources: Cointelegraph, CoinDesk, The Block, Decrypt
This article is for information only and is not financial advice.
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