OKX and ICE joint venture files SEC application for tokenized stock trading — Fortune

In the United States, a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a blockchain platform for round-the-clock trading in tokenized U.S. stocks. Fortune reports.

More than 60 tokenized stocks

The platform, called OKXICE, plans to offer trading in more than 60 U.S. company stocks if approved by the regulator. Users will be able to buy and sell tokens using stablecoins, cryptocurrencies designed to maintain a fixed value against the U.S. dollar.

According to the company, each token will be backed by an underlying share. This is expected to mean that the token will represent ownership rights in an actual share rather than merely track its price. Trading is planned to take place through the OKX-affiliated XLayer blockchain.

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Temporary exemption from some rules

The initiative is based on an SEC program introduced in mid-September. It will operate for five years and allows companies to organize trading in blockchain versions of stocks under a temporary exemption from some requirements that apply to traditional exchanges, including Nasdaq and NYSE.

Former New York Governor Andrew Cuomo became co-chair of OKXICE about three months before the application was filed. In March, ICE announced an investment in OKX at a valuation of $25 billion for the crypto exchange; according to Bloomberg, the investment amounted to about $200 million.

Cuomo began advising OKX in 2023, when the crypto exchange was under investigation by the U.S. Department of Justice over possible violations of anti-money-laundering rules. In February 2025, OKX pleaded guilty and agreed to pay about $500 million to settle the case, and two months later resumed operations in the United States.