OKX-ICE Tokenized Stock Venue Sets Launch, Turning to Crypto Companies After Big Tech Opts Out
OKXICE, the joint venture between OKX and NYSE owner ICE, will launch its tokenized securities venue on November 23 with over 70 assets, including 59 Direxion ETFs and securities from crypto-friendly companies.
After weeks of rejections from corporate America, OKX and ICE's tokenized stock venue has found its launch lineup: crypto's own public companies. The venue will open on November 23 with more than 70 assets, including securities from Coinbase, Circle, Robinhood, Strategy, BitGo, Securitize and Better.com, plus 59 ETFs from Direxion.
Crypto Companies Step In
Launch issuers include Coinbase, Circle, Robinhood and Strategy, crypto-friendly companies that didn't appear among the 67 objectors as of November 5. That's a very different roster from the one the venue started with, as every member of the "Magnificent Seven" tech giants had objected to having their shares traded on the platform.
The SEC has created a real opening for American markets to lead the next era of finance.
Tokenization Details
Securitize will provide the tokenization infrastructure, with each token representing an entitlement backed one-for-one by a real U.S. share, carrying dividends, voting rights and other shareholder benefits. Trading will run through automated market maker pools built on Uniswap v4 on X Layer, OKX's Ethereum layer-2 network.
Strategy CEO Phong Le called tokenization on the venue "a natural next step" for the company's preferred stocks, such as STRC. Access is limited to eligible U.S.-based OKX customers who activate a CeDeFi Wallet, pass identity verification and complete onboarding with OKXICE.
Regulatory Framework
The venue operates under the SEC's innovation exemption, which the agency unveiled in September after the Clarity Act failed to advance in the Senate. Under this exemption, companies can keep third-party tokenized versions of their stock off a given venue by objecting within 30 days.
The launch caps a busy stretch for Wall Street tokenization. DTCC's new tokenization service, which runs partly on the Canton Network, went live in late October, and Morgan Stanley said it was among the first banks to use it.
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