OKX and ICE Joint Venture Proposes 24/7 Tokenized Stock Trading on X Layer

OKXICE, a joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), has formally notified the U.S. Securities and Exchange Commission (SEC) of its plans to launch a tokenized stock trading venue.

The notice, dated Sunday, October 4, outlines plans to bring blue-chip equities onto blockchain infrastructure, leveraging the SEC’s newly established innovation exemption.

Permissioned On-Chain Venue Planned on X Layer

According to the filing, OKXICE—structured as a 50-50 joint venture between ICE and OKX—intends to operate permissioned Uniswap v4 liquidity pools on the X Layer network. The proposed venue is designed to support over sixty U.S.-listed companies, with issuers granted a thirty-day window to opt out of the initiative.

The roster of companies currently identified for this initiative includes major household names and industry leaders such as Nvidia, Apple, Microsoft, Amazon, Tesla, JPMorgan Chase, Walmart, Netflix, Coca-Cola, Goldman Sachs, Boeing, Cisco, IBM, Coinbase, Robinhood, Palantir, AMD, Circle, Reddit, and SpaceX, among others.

Andrew Cuomo, co-chair of OKXICE and former Governor of New York, described the proposal as a “landmark step” toward establishing a global, round-the-clock Wall Street anchored in the United States. 

SEC Innovation Exemption Enables Tokenized Stock Trading

This filing closely follows the SEC’s September 17 decision to grant a five-year innovation exemption. This exemption allows eligible trading venues to handle tokenized versions of U.S.-listed stocks without the requirement to register as traditional exchanges. OKXICE is advancing its proposal under this specific regulatory framework.

The joint venture unites the cryptocurrency exchange OKX with Intercontinental Exchange, the parent company of the New York Stock Exchange, bridging the gap between traditional finance and digital asset markets.

ICE previously invested in OKX in 2026 at a valuation of approximately $25 billion. Together, the two entities established OKXICE to focus on regulated U.S. market products and tokenized assets. In this partnership, OKX contributes its cryptocurrency infrastructure and extensive customer base, while ICE brings decades of experience in regulated markets and institutional financial infrastructure.

The OKXICE proposal emerges at a time when Wall Street is demonstrating increasing interest in extending trading hours and transitioning toward round-the-clock market operations.

For instance, Nasdaq is scheduled to transition to 23-hour trading, five days a week in December, while the London Stock Exchange is preparing its own 24/5 trading venue for 2027.

However, OKXICE aims to take this concept a step further by bringing U.S. stocks directly on-chain. This would enable tokenized shares to trade around the clock, 24 hours a day, seven days a week, on the X Layer network.

Why This Matters

This filing puts the SEC’s new innovation exemption into practical application, marking a significant milestone as a major U.S. exchange operator enters the tokenized stock trading arena. It is poised to intensify competition between traditional financial institutions and crypto-native platforms in the rapidly evolving tokenized equities market.

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