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7 tokenized trading in 60 U.S. stocks
CoinDesk • • business
Key Points:
- OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), has informed the SEC of plans to launch a tokenized stock trading platform featuring over 60 U.S.-listed companies.
- Tokenized stocks are blockchain-based digital versions of traditional shares, enabling 24/7 trading and faster settlement outside normal market hours.
- The initiative leverages a new SEC "Innovation Exemption" rule allowing tokenized U.S. stock trading via automated market makers and liquidity pools, valid for five years with regulatory safeguards in place.
- This move marks the mainstreaming of tokenized stocks in the U.S., transitioning from offshore crypto exchange offerings to a regulated domestic venue with full shareholder rights including dividends and voting.
- The timeline for launch depends on a 30-day objection period from listed companies and further regulatory approvals, with venture co-chair Andrew Cuomo expressing confidence in the project's future.
