OKXICE Seeks SEC Path for Tokenized U.S. Stocks

OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange, has notified the U.S. Securities and Exchange Commission of plans to operate a venue for trading tokenized U.S. stocks. The proposed platform would initially cover more than 60 companies, with reports describing a planned lineup of 63 New York Stock Exchange-listed companies. Trading has not begun, and the reported filing and proposed securities have not been established through a publicly searchable filing. The plan would offer blockchain-based versions of conventional shares. Tokenized securities can be traded and settled using blockchain technology, and the proposed venue is intended to support trading beyond the hours of traditional stock markets. Under the SEC framework cited by the venture, qualifying tokenized shares must preserve the rights associated with the corresponding conventional shares, including dividends and voting. The reported filing relies on an SEC innovation exemption issued September 17. The temporary framework provides qualifying venues conditional relief for five years, subject to limits and operational requirements.