OKX and NYSE Parent ICE File for 24/7 Tokenized U.S. Stock Trading

Key points

• OKXICE, a 50-50 joint venture formed in June, filed with the SEC to launch a tokenized stock trading venue.
• The venue will initially offer tokenized shares of more than 60 U.S.-listed companies, including Nvidia, Apple, and Tesla.
• Tokenized shares will carry full shareholder rights, including dividends and voting, and enable 24/7 trading and faster settlement.
• The plan relies on a new five-year SEC 'Innovation Exemption' issued on Sept. 17, which allows certain venues to trade tokenized U.S. stocks without registering as exchanges.
• Listed companies have 30 days to object to the tokenization of their shares.
• The tokenized stock market has grown to approximately $3.2 billion, up 15% in the past month, according to RWA.xyz.

Background

The SEC's five-year tokenized-stock pilot, announced on Sept. 17, 2026, created a regulated pathway for tokenized U.S. stocks that carry full shareholder rights. This exemption allows on-chain automated market maker (AMM) trading within a regulated framework, including KYC and issuer veto rights. Prior to this, crypto exchanges offered tokenized U.S. stocks only to customers outside the U.S. under offshore rules. The broader tokenized-assets market had climbed toward $38.5 billion, with Securitize holding about 9% of the market.

How outlets are covering it

CoinDesk emphasizes the mainstreaming of tokenization, noting that ICE's involvement signals a shift from offshore, unregulated offerings to a regulated U.S. venue. The Block highlights the specific list of 60 companies, including major tech and financial firms, and quotes OKX CEO Star Xu on the benefits of 'real ownership, onchain.' Seeking Alpha frames the development as a significant step toward the tokenization of the U.S. stock market, focusing on the 24/7 trading capability. All three outlets agree on the core facts but differ in emphasis: CoinDesk focuses on the regulatory framework, The Block on the specific companies and quotes, and Seeking Alpha on the broader market implications.

Why it matters

This filing marks a significant step toward integrating traditional stock markets with blockchain technology, potentially increasing accessibility and efficiency for investors. The 24/7 trading and faster settlement could change how U.S. stocks are traded, while the preservation of dividend and voting rights addresses a key concern for traditional investors. The success of this pilot could influence the future of tokenized assets and the role of crypto exchanges in traditional finance.

What to watch

The launch of the OKXICE venue depends on the 30-day objection period for listed companies and other regulatory steps. If approved, the venue could become the first regulated U.S. platform for 24/7 tokenized stock trading. The broader impact will depend on investor adoption and the performance of the tokenized stock market, which has already grown to $3.2 billion.