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[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 30 sources · 24 days · First seen about 2 months ago · Last updated 23 days ago

OKX expansion into tokenized stock markets

Overview

OKX has expanded its financial offerings in Europe by launching pre-IPO markets and tokenized stocks. The pre-IPO markets, known as Pre-IPO X-Perps, allow traders to take long or short positions on the implied valuations of private companies like OpenAI and Anthropic. These derivative contracts offer up to 10x leverage but do not provide direct ownership or voting rights. The exchange also introduced 100 tokenized stock markets, including assets like SpaceX, Google, and NVIDIA, to enable 24/7 trading.

Following these developments, OKX and Intercontinental Exchange (ICE) filed with the U.S. Securities and Exchange Commission (SEC) to establish OKXICE LLC. This joint venture seeks to launch a platform for trading digital assets backed by shares listed on the New York Stock Exchange (NYSE). Unlike earlier synthetic products, these new tokens are intended to preserve full shareholder rights, such as dividends and voting rights, under a recent SEC Innovation Exemption.

OKXICE has formally notified the SEC of its plan to launch a Tokenized Securities Venue (TSV). The proposed platform aims to enable 24/7 trading of digital versions of 63 NYSE-listed stocks using automated market makers and liquidity pools on the X Layer blockchain. Trading will involve major companies such as Nvidia, Apple, Microsoft, Tesla, and Amazon, utilizing permissioned Uniswap v4 liquidity pools. Settlement is intended to occur via stablecoins such as USDC, USDT, or USDG. To ensure compliance, the underlying shares will be held one-to-one by registered broker-dealers. The initiative includes a regulatory safeguard allowing listed companies a 30-day window to object to the tokenization of their shares before trading commences.

Entities

OKX · New York Stock Exchange · OpenAI · Tesla · Nvidia

Claims

What the coverage asserts, and how many sources carry each claim.

[● 15 SOURCES] OKXICE has notified the SEC of its intention to launch a Tokenized Securities Venue (TSV) under the agency's new Innovation Exemption.
[● 13 SOURCES] The proposed platform intends to offer tokenized shares of 63 NYSE-listed companies.
[● 12 SOURCES] The platform aims to enable 24/7 trading of tokenized securities.
[● 10 SOURCES] Tokenized stocks must preserve shareholder rights, including dividends and voting rights.
[● 9 SOURCES] Issuers have a 30-day window to object to the tokenization of their shares.
[● 7 SOURCES] The platform will use stablecoins such as USDC, USDT, or USDG for settlement.
[● 6 SOURCES] Trading will utilize automated market makers and liquidity pools on the X Layer blockchain.
[● 4 SOURCES] The joint venture was formed following ICE's strategic investment in OKX in March.

Timeline

23 days ago

[BUSINESS] 21 sources
OKXICE notifies SEC of plans to launch 24/7 tokenized U.S. stock trading venue
OKXICE, a joint venture between OKX and Intercontinental Exchange, has notified the SEC of plans to launch a 24/7 tokenized stock trading platform for over 60 U.S. equities using blockchain technology.
about 2 months ago

[BUSINESS] 9 sources
OKX launches pre-IPO markets and tokenized stocks in Europe
OKX has introduced pre-IPO perpetual contracts and tokenized stocks for European traders, allowing exposure to the implied valuations of private companies like OpenAI and Anthropic.

Sources

blockmedia.co.kr · blockonomi.com · blocktempo.com · businessnewsthisweek.com · coinacademy.fr · coincu.com · coindeskjapan.com · coinedition.com · coinpaper.com · cointelegraph.com · crypto-insiders.nl · crypto.news · cryptoast.fr · cryptobreaking.com · cryptobriefing.com · detlionblood32.wordpress.com · dmarketforces.com · dunya.com · ethnews.com · eurweb.com · fortune.com · fxdailyreport.com · kleinezeitung.at · koinbulteni.com · lafa.org · merca2.es · newsbit.nl · npinvestor.dk · trendingtopics.at · wochenblatt-dlv.de

This summary has been updated 2 times: see revision history