OKXICE Sets Nov. 23 Launch for Tokenized Stock Trading

OKXICE, the joint venture of OKX and Intercontinental Exchange (owner of the NYSE), will open its Tokenized Securities Venue for trading at 9 a.m. ET on November 23, The Block and Unchained reported on November 11. The venue works under the SEC's Innovation Exemption, issued on September 17.

Details

More than 70 assets are confirmed, including 59 ETFs, but not all will trade on day one. Issuers named in the reports include Circle, Coinbase, Robinhood, Strategy, BitGo and Securitize. Per Unchained, each token represents a security entitlement backed one-for-one by actual US shares, and holders keep rights such as dividends and voting. Trading runs through Uniswap v4 pools on OKX's X Layer network, open only to approved wallets.

Not every issuer agreed: 67 companies objected by the November 5 deadline of the venue's public notice, including Tesla and Meta. Our earlier count was 56 objectors in the Nov. 2 notice. Co-chair Andrew Cuomo said: "The future of finance is onchain, and we have an opportunity to build it here in America." The Block adds that Nasdaq's chief legal officer, John Zecca, warned the exemption allows trading outside the regulated national market system, which could fragment the market.

What This Means for Markets

The date makes OKXICE one of the first venues to trade tokenized US equities around the clock under the SEC exemption, in competition with the Nasdaq and Kraken effort. The size of the opening list is the open question: objections remove those companies' shares, and the notice does not say which of the 70+ assets will be tradable on November 23. Live crypto prices are in the daily brief.