OKX and ICE joint venture notifies SEC of plan for 24/7 tokenized stock trading
OKXICE, the 50-50 venture of OKX and NYSE parent ICE, told the SEC in an Oct. 4 notice that it plans a 24/7 venue trading 63 tokenized U.S. stocks.
Why it matters
The notice puts the owner of the New York Stock Exchange behind a venue reachable only through permissioned pools and identity-gated wallets, and it depends on an SEC exemption that expires Sept. 17, 2031 unless the agency changes it. Cointelegraph cites Binance Research data putting the tokenized equity market at $4.43 billion as of Sept. 15, up 390% in 2026 but equal to 0.0029% of the $151.9 trillion global listed-equity market, and the same outlet reports Dune's estimate of $34.5 billion for all tokenized real-world assets as of Aug. 31. Until the SEC acts on the notice, the practical effect is limited.
Where the sources disagree
Whether a stock token conveys actual ownership of the underlying share
every tokenized stock expected to have a real share behind it, held 1-to-1 through a FINRA-member broker-dealer
Bitcoin.com News
tokens track a stock's price but give buyers no ownership of the underlying shares
CoinDesk
a token that lacks the rights and privileges of the underlying share is classified as a synthetic stock and falls outside the new rules
Cointelegraph
Bitcoin.com describes OKXICE tokens as backed by a real share held one-for-one at a FINRA-member broker-dealer, while CoinDesk and Cointelegraph describe competing products as synthetic wrappers that track a share's price without giving the shareholder rights of a share.
Whether issuer consent is required to tokenize a company's stock
Robinhood tokenized AMC's stock without consent; product called vile
CoinDesk
consent is not required
CoinDesk
AMC CEO Adam Aron says Robinhood tokenized AMC stock without consent and called the product vile, while Robinhood CEO Vlad Tenev said consent is not required and that Robinhood is meeting international demand.
Key facts
OKXICE told the SEC in a notice dated Oct. 4 that it plans to run a tokenized U.S. stock trading venue operating around the clock.
Reported by CoinDesk
Unchained reports the notice lists 63 stock tokens while CoinDesk describes the launch as starting with more than 60 U.S.-listed companies.
63 tokensDisputed figureReported by CoinDesk
Trades would run through permissioned Uniswap v4 liquidity pools on X Layer, with prices from each pool's automated market maker formula and no order book or external price feed inside the contracts.
Reported by Unchained
Only wallets holding a non-transferable soulbound token could trade or supply liquidity, and that token is issued after identity, anti-money-laundering, sanctions and wallet checks by an OKX affiliate plus approval by the tokenizer.
Reported by Unchained
Each stock token would trade against USDC, USDG or USDT.
Reported by Unchained
Bitcoin.com reports every tokenized stock is expected to have a real share behind it held one-for-one through a FINRA-member broker-dealer.
Disputed figureReported by Bitcoin.com News
What happened
OKXICE, the joint venture formed 50-50 by crypto exchange OKX and Intercontinental Exchange, which owns the New York Stock Exchange, told the SEC in a notice dated Oct. 4 that it plans a venue for trading tokenized U.S. stocks around the clock, and former New York Gov. Andrew Cuomo, the venture's co-chair, announced it on X, calling it 'a landmark step toward a truly global, 24/7 Wall Street'. Unchained reports the notice lists 63 stock tokens, among them Nvidia, Tesla, Apple, Microsoft, Amazon, JPMorgan and Goldman Sachs plus Coinbase, Strategy, Circle and Robinhood, each to trade against USDC, USDG or USDT. Trades would run through permissioned Uniswap v4 liquidity pools on X Layer, priced by each pool's automated market maker formula with no order book or external price feed, and only wallets holding a non-transferable soulbound token could trade or supply liquidity after identity, anti-money-laundering, sanctions and wallet checks by an OKX affiliate. CoinDesk says the venue will start with more than 60 U.S.-listed companies and that the plan leans on the SEC's five-year innovation exemption, issued Sept. 17 and running to Sept. 17, 2031 unless changed, which gives issuers a 30-day window to object, while Bitcoin.com reports every tokenized stock is expected to be backed by a real share held one-for-one through a FINRA-member broker-dealer. Cointelegraph notes that most existing tokenized stocks fall outside the new rules because tokens must carry the same rights and privileges as the underlying shares, and CoinDesk's Aaron Kaplan writes that the disputed Robinhood products are debt securities from an offshore subsidiary that track a stock's price without conveying ownership, a claim AMC CEO Adam Aron made after calling Robinhood's tokenization of his company's stock without consent 'vile', to which Robinhood CEO Vlad Tenev replied that consent is not required. Launch timing, eligible markets and final approval remain unresolved.
How the story developed
- Official statement
SEC issues five-year tokenized stock trading exemption
The order creates a path for certain venues to trade tokenized NMS stocks onchain without registering as securities exchanges; Crypto.News says it was issued Sept. 17 and expires Sept. 17, 2031 unless changed.
- First report
First report by Cointelegraph
Arch Lending eyes tokenized stocks as next collateral market
- Update
NYSE and Blockchain.com sign memorandum of understanding
The two companies agreed to explore routing Blockchain.com users into NYSE's planned 24/7 tokenized market and to establish a two-way market-data relationship, subject to regulatory approval.
- Independent corroboration
Independently corroborated by Crypto.News
Tokenized stocks must carry the same shareholder rights, OKX US CEO says
- Update
Bullish and four firms form Issuer Sponsored Token Coalition
Bullish, Equiniti, Alpaca, Apex Fintech Solutions and Drivewealth formed the group on Sept. 24 to tie onchain tokens to official shareholder registers; Equiniti serves nearly 3,000 issuers and 20 million shareholders.
- Official statement
Official statement from Bitcoin.com News
Bullish Takes Aim at Wall Street’s Tokenized Stock Ownership Gap
- Update
Dune report quantifies tokenized market size
Cointelegraph reports Dune put tokenized real-world assets at $34.5 billion as of Aug. 31, up more than 140% from a year earlier, and Binance Research data put tokenized equities at $4.43 billion as of Sept. 15.
- Official statement
OKXICE files notice with the SEC
The notice dated Oct. 4 lists 63 stock tokens for a venue trading 24/7 through permissioned Uniswap v4 pools on X Layer; Cuomo announced it on X.
- Update
Mainstream outlets pick up the OKXICE notice
CoinDesk, Unchained and Bitcoin.com published accounts of the filing, with CoinDesk reporting the venue will start with more than 60 U.S.-listed companies.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 22 Sept 2026, 21:06 UTC: Cointelegraph — 1 independent source, 1 reports
- 23 Sept 2026, 18:24 UTC: Crypto.News — 2 independent sources, 3 reports
- 24 Sept 2026, 17:09 UTC: Crypto News (CryptoNews.net) — 3 independent sources, 4 reports
- 24 Sept 2026, 19:00 UTC: CryptoSlate — 4 independent sources, 5 reports
- 26 Sept 2026, 03:30 UTC: Bitcoin.com News, official — 5 independent sources, 8 reports
- 30 Sept 2026, 11:00 UTC: CoinDesk — 6 independent sources, 13 reports
- 30 Sept 2026, 12:12 UTC: Unchained — 7 independent sources, 14 reports
- 5 Oct 2026, 05:41 UTC: CoinGape — 8 independent sources, 25 reports
- 5 Oct 2026, 06:15 UTC: Crypto News Flash — 9 independent sources, 26 reports
- 5 Oct 2026, 07:39 UTC: TheNewsCrypto — 10 independent sources, 28 reports
- 5 Oct 2026, 10:22 UTC: Decrypt — 11 independent sources, 30 reports
- 5 Oct 2026, 20:29 UTC: CryptoPotato — 12 independent sources, 34 reports
Affected entities
Also mentioned: Coinbase, Kraken, Solana, Tether USDt, Uniswap, USD Coin, XRP
Original sources
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