- OKXICE plans to initially offer tokenized shares of 63 NYSE-listed companies, including Nvidia, Apple, Tesla and Coinbase.
- The proposed venue would enable 24/7 trading through permissioned Uniswap v4 liquidity pools on XLayer.
- Eligible tokenized stocks would retain shareholder rights, while issuers would receive 30 days to object before trading begins.
OKXICE LLC, a joint venture between OKX and Intercontinental Exchange, notified the SEC on Oct. 4 about a U.S. tokenized-stock venue. The platform would initially cover 63 NYSE-listed companies and support round-the-clock trading. According to Bloomberg, issuers would receive 30 days to object before their shares begin trading.
OKXICE Targets 63 U.S. Stocks
The proposed venue would operate as a Tokenized Securities Venue under the SEC’s Innovation Exemption. The initial list includes Nvidia, Apple, Microsoft and Tesla, alongside Strategy, Coinbase, Circle and BitGo.
Andrew Cuomo, co-chair of OKXICE, said the platform would include more than 60 U.S.-listed companies. The proposed system would use permissioned Uniswap v4 liquidity pools deployed on XLayer. Each tokenized stock would pair with USDC, USDG or USDT.
The platform would therefore connect tokenized securities with stablecoin-based liquidity. The venture began after OKX and ICE formed a 50-50 partnership in June. The companies said the joint venture would develop infrastructure for tokenized financial products.
SEC Framework Sets Trading Conditions
The filing follows the SEC’s September introduction of a five-year Innovation Exemption. The framework allows qualifying venues to trade tokenized National Market System stocks on-chain. However, eligible tokens must preserve shareholder rights tied to traditional shares.
Those rights include dividends and voting privileges. The framework also allows trading through permissioned automated market makers and liquidity pools. Issuers must receive an opportunity to object before trading begins.
The exemption remains available through Sept. 17, 2031. Meanwhile, OKX already offers tokenized U.S. stocks internationally under Regulation S. Those existing products remain unavailable to U.S. persons. They also provide price exposure without direct shareholder rights, unlike securities under the new framework.
OKXICE Moves Toward U.S. Launch
OKX and ICE are pursuing separate regulatory requirements for the proposed U.S. platform. The joint venture still needs to satisfy applicable conditions before operations can begin. The filing also differs from OKX’s existing international tokenized-stock products.
Those products use underlying shares held by third-party issuers and operate outside the U.S. market. Meanwhile, the proposed OKXICE venue would operate within the SEC’s new framework.
The platform would run continuously rather than follow traditional stock-market trading hours. The next steps include the 30-day issuer objection period and other regulatory requirements. The proposed platform therefore remains subject to those conditions before trading starts.
