OKXICE to debut tokenized stock trading with Strategy, Coinbase, Circle this month
OKXICE, a joint venture between OKX and Intercontinental Exchange, will begin round-the-clock trading on Nov. 23, offering more than 70 tokenized securities.
The venture, a partnership between crypto exchange OKX and NYSE parent Intercontinental Exchange, has secured listings for Coinbase, Circle, Strategy, and 59 Direxion exchange-traded funds.
Trading will take place through Uniswap v4 liquidity pools on X Layer, OKX’s Ethereum layer-2 network, with tokenization infrastructure provided by Securitize.
The tokens will represent security entitlements to the underlying shares, preserving shareholder rights including dividends, voting, and participation in corporate actions.
Access is initially available only to eligible U.S.-based OKX Inc. customers who have completed identity checks and onboarding.
The securities will remain in customers’ self-custodial wallets, and OKXICE said it will not hold their assets or private keys.
SEC's five-year experiment
OKXICE is the second venue to launch under the U.S. Securities and Exchange Commission’s five-year experiment, known as the 'innovation exemption,' which allows trading tokenized stocks on blockchain rails through automated market makers.
The SEC has created a real opening for American markets to lead the next era of finance.
The lineup is concentrated in companies already tied to digital assets, supplemented by Direxion’s funds.
Our mission has always been to give investors precise tools, delivered in the way they want to use them. As trading behavior evolves, so do we.
Corporate objections
The confirmed lineup follows objections from 56 of the 62 companies originally proposed, with total objections reaching 67.
Apple, Microsoft, Nvidia, Amazon, Tesla, and JPMorgan Chase were among the companies that opted out of the initial selection.
The SEC’s framework gives issuers 30 calendar days after receiving notice to object when an unaffiliated third party arranges the tokenization.
The objections have highlighted companies’ caution about trading outside the familiar stock market structure, rather than necessarily opposition to tokenization itself.
Next steps
OKXICE said not all assets will be available at the start, with the spokesperson indicating a phased rollout.
The venue will operate round-the-clock, offering a new alternative for investors to trade tokenized securities on a blockchain-based platform.
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