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BTC 
ETH OKXICE filed an application under the SEC Innovation Waiver to launch a tokenized securities trading platform in the United States
OKXICE LLC (a joint venture between cryptocurrency exchange OKX and ICE, the parent company of the New York Stock Exchange) has submitted an application with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized securities trading platform in the United States under the agency's new "Innovation Exemption." The move makes OKXICE one of the first companies to formally seek exemption approval.
The application comes amid the SEC's introduction of innovation exemptions after comprehensive encryption legislation backed by President Trump failed to pass the Senate. The exemption paves the way for blockchain-based securities to be traded on U.S. cryptocurrency platforms under certain conditions. In addition, ICE invested in OKX in March this year at a valuation of US$25 billion, further consolidating the cooperative relationship between the two parties.
Andrew Cuomo, co-chairman of OKXICE and former New York Gov., announced the application on social media X, describing it as a milestone step towards a truly global, round-the-clock "Wall Street."
Specific scope of application
The initial launch lineup includes tokenized shares of 63 NYSE listed companies. According to regulations, issuers have 30 days to opt out, before which trading in relevant stocks cannot begin. The platform is designed for round-the-clock trading and faster on-chain settlement, while retaining dividends and voting rights-mandatory requirements under the SEC's new framework. In this process, all rights and interests of shareholders will not be harmed.
In addition, the final launch time of the platform depends on whether the exit period is completed and remaining regulatory requirements are met.
Shifting in the competitive landscape
The world's major exchanges, including the New York Stock Exchange (NYSE), Nasdaq and London Stock Exchange, all plan to launch round-the-clock trading services in the next few months. The forecasting market is also actively moving into U.S. stock market trading, a move that has attracted close attention from regulators.
The SEC's innovation immunity actually sounded the starting gun of the competition. Currently, different models are vying for market share: some companies work directly with listed companies to introduce tokenized shares into the crypto market; others offer tokens created by third parties without the involvement of the issuer. OKXICE is firmly in the first camp, and its partner is ICE, the parent company of the New York Stock Exchange.
For traditional exchanges, this is not just a new product category, but also a structural challenge. The crypto platform that provides 24/7 access to U.S. stocks and enables online settlement has directly impacted the operating hours and settlement schedules that have defined Wall Street for decades. Tokenized U.S. stocks traded around the clock on crypto infrastructure have redefined the concept of an exchange. The first batch of platforms launched under this exemption will have a first-mover advantage in markets where traditional finance is just beginning to enter.
Crypto Market Highlights
The SEC has approved three Bitcoin and Ethereum leveraged ETFs, significantly expanding access to the crypto market.
