NYSE Owner ICE, OKX Plan 24/7 Tokenized Stock Trading

Intercontinental Exchange (ICE), parent of the New York Stock Exchange, and crypto exchange OKX have notified the SEC that their 50-50 joint venture OKXICE intends to launch a Tokenized Securities Venue. The filing, submitted on October 4, proposes 24/7 trading of tokenized shares for 63 large U.S. companies including Nvidia, Apple, Tesla, Microsoft, and JPMorgan Chase.

The platform will operate on X Layer, OKX's layer-2 network, using permissioned liquidity pools based on Uniswap v4. Tokenized shares will trade directly against stablecoins USDC, USDG, or USDT with instant on-chain settlement. Underlying shares will be held one-for-one by tokenization providers while users retain custody of tokens in their own wallets.

“This is a landmark step toward a truly global, 24/7 Wall Street”

The SEC's new five-year "innovation exemption," approved September 17, enables this structure without full exchange registration. Each venue may list up to 75 large U.S. stocks with trading volume capped at 0.25 percent of each stock's average daily volume. Tokens must carry the same shareholder rights as underlying shares.

Companies on the list have 30 days to object, with Cerebras already having done so. The earliest possible launch is early November. Former New York Governor Andrew Cuomo, co-chair of OKXICE, called the move a landmark step toward a truly global, 24/7 Wall Street.