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OKXICE notifies SEC of plans to launch 24/7 tokenized U.S. stock trading venue
OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has notified the U.S. Securities and Exchange Commission (SEC) of its intention to launch a Tokenized Securities Venue (TSV).
The proposed platform aims to enable 24/7 trading of tokenized versions of approximately 63 NYSE-listed stocks, including major companies such as Nvidia, Apple, Microsoft, Tesla, and Amazon. The venue intends to operate under the SEC’s new Innovation Exemption, which allows for the testing of on-chain trading for National Market System stocks using automated market makers and liquidity pools.
Trading will take place on OKX’s X Layer blockchain, utilizing permissioned Uniswap v4 liquidity pools. Transactions will be settled using stablecoins such as USDC, USDT, or USDG. To ensure compliance with the regulatory framework, the tokenized assets must preserve full shareholder rights, including voting rights and dividends. Additionally, the underlying shares will be held one-to-one by registered broker-dealers.
Under the proposed rules, issuing companies will be provided with a 30-day window to object to the tokenization of their shares before trading can commence.
Entities
Andrew Cuomo · Intercontinental Exchange · New York Stock Exchange · Nvidia · OKX · Securities and Exchange Commission · Tesla · U.S. Securities and Exchange Commission
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 13 SOURCES] The proposed platform intends to offer tokenized shares of 63 NYSE-listed companies. www.crypto-insiders.nl · crypto.news · www.cryptobreaking.com · dmarketforces.com · npinvestor.dk · +7 more
- [● 12 SOURCES] The platform aims to enable 24/7 trading of tokenized securities. www.crypto-insiders.nl · www.cryptobreaking.com · npinvestor.dk · www.dunya.com · ethnews.com · +7 more
- [● 15 SOURCES] OKXICE has notified the SEC of its intention to launch a Tokenized Securities Venue (TSV) under the agency's new Innovation Exemption. www.crypto-insiders.nl · crypto.news · www.cryptobreaking.com · dmarketforces.com · npinvestor.dk · +9 more
- [● 6 SOURCES] Trading will utilize automated market makers and liquidity pools on the X Layer blockchain. www.cryptobreaking.com · ethnews.com · newsbit.nl · www.blockmedia.co.kr · coinpaper.com · +1 more
- [● 10 SOURCES] Tokenized stocks must preserve shareholder rights, including dividends and voting rights. crypto.news · www.cryptobreaking.com · dmarketforces.com · coinedition.com · cryptobriefing.com · +4 more
- [● 9 SOURCES] Issuers have a 30-day window to object to the tokenization of their shares. crypto.news · dmarketforces.com · coinedition.com · www.dunya.com · ethnews.com · +3 more
- [● 7 SOURCES] The platform will use stablecoins such as USDC, USDT, or USDG for settlement. www.crypto-insiders.nl · www.cryptobreaking.com · ethnews.com · www.blockmedia.co.kr · www.nadanews.com · +2 more
- [● 4 SOURCES] The joint venture was formed following ICE's strategic investment in OKX in March. crypto.news · coinedition.com · www.dunya.com · newsbit.nl