OKX and ICE's joint venture OKXICE is seeking SEC approval to offer tokenized shares of 63 NYSE-listed firms, as it leverages new US rules on tokenized stocks

Tokenized U.S. stocks, including dividends and voting rights, can now be traded on a regulated venue with 24/7 access and faster settlement.

OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), has filed with the SEC to launch a U.S. trading venue for tokenized stocks. This venue will initially offer blockchain-based shares of over 60 U.S.-listed companies, aiming to enable 24/7 trading and faster settlement while preserving shareholder rights like dividends and voting. The initiative leverages a new five-year SEC "Innovation Exemption" that allows such venues to operate under specific conditions. Companies whose shares are tokenized will have a 30-day period to object to the process. This move marks a significant step towards mainstream adoption of tokenized securities in the U.S. market, with the NYSE owner's involvement underscoring the trend.

The filing signals a growing institutional acceptance and regulatory framework for tokenized assets within the United States. By leveraging the SEC's "Innovation Exemption," OKXICE is positioning itself to capture a significant share of what is expected to be a rapidly expanding market for digital securities. This move could pave the way for broader tokenization of traditional financial instruments, attracting both retail and institutional investors seeking enhanced accessibility and efficiency.

This development directly affects investors and financial institutions by introducing new trading possibilities and potential competitive pressures on existing market structures. The ability to trade tokenized shares outside of traditional market hours, coupled with faster settlement, offers a compelling value proposition. Watch for how companies respond to the 30-day objection window and the SEC's continued oversight as this innovative trading model gains traction.