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

Tokenized stocks will now be available for trading by U.S. investors on a regulated exchange, with 24/7 access and faster settlement.

OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), has filed with the U.S. Securities and Exchange Commission (SEC) to launch a trading venue for tokenized U.S. stocks. This initiative aims to offer 24/7 trading and faster settlement for digital versions of shares of over 60 NYSE-listed companies. The plan leverages a new five-year SEC "Innovation Exemption" allowing such venues, provided tokenized shares retain the same rights as regular stock, including dividends and voting. Companies have a 30-day window to object to their shares being tokenized. The venture, formed in June, intends to bring tokenized stock trading onshore to a regulated U.S. market. The current market for tokenized stocks is approximately $3.2 billion and has seen significant growth.

The filing by OKXICE signals a significant step toward mainstream adoption of tokenized securities within the U.S. regulatory framework. By utilizing the SEC's new Innovation Exemption, the joint venture is positioning itself to capitalize on the growing interest in blockchain-based assets, potentially attracting both traditional and crypto-native investors to a unified platform. The inclusion of dividend and voting rights is crucial for bridging the gap between traditional equity ownership and digital tokens, addressing key concerns for institutional adoption.

This move by OKX and ICE, with the backing of the NYSE's parent company, suggests that regulated, round-the-clock trading of tokenized U.S. equities is becoming a near-term reality. Investors should watch for any objections from the 63 companies during the 30-day review period, as well as the SEC's ongoing oversight of this new class of securities. The success of this venture could pave the way for broader tokenization of other financial assets and reshape market infrastructure for global trading.