Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
USDG OKX合资企业向美国SEC提交申请，拟推出代币化股票交易场所
由加密货币交易所运营商OKX与纽约证券交易所母公司洲际交易所（ICE）各持股50%组成的合资企业OKXICE LLC，已向美国证券交易委员会（SEC）提交文件，旨在启动一个代币化证券交易场所（TSV）。此举标志着在SEC较新的监管“创新”框架下，通往传统市场的链上访问通道再次取得推进。该 filings 指出，将利用链上流动性工具对代币化的美国交易所上市股份进行许可制交易。
核心要点
1. 基于SEC创新豁免权的申请
OKXICE已在SEC提交申请，计划在SEC的“创新豁免权”框架下启动代币化证券交易场所。
2. 涵盖主流及加密相关股票的标的列表
该平台计划列出63个美国股票代码，既包括大型科技和消费类公司，也包含部分与加密货币相关的股权标的。
3. 全天候交易机制
交易计划通过部署在XLayer上的许可制Uniswap v4流动性池实现24/7不间断运行。
4. 稳定币配对方案
每只代币化股票将根据具体市场情况，分别与USDC、USDG或USDT中的一种稳定币进行配对。
依据SEC创新豁免权推进代币化股票业务
Based on the documents described by the joint venture, OKXICE intends to operate TSV under an "innovation exemption" temporarily issued by the SEC. The exemption, issued in September, allows limited trading of tokenized U.S. stocks in certain on-chain locations if certain conditions are met.
The purpose of this innovative exemption is to test how to use automated market makers (AMMs) and liquidity pools to trade National Market System (NMS) stocks, rather than relying entirely on traditional broker or exchange mechanisms.
In public materials related to the plan, OKXICE co-chairman Andrew Cuomo said: "The digital asset revolution is changing our financial system. Tokenized securities are part of the next step." Previous reports have emphasized that the rules are designed to create a controlled environment for on-chain securities trading so that the SEC has a buffer when assessing risks and market structure issues.
List of proposed codes covers mainstream stocks and crypto affiliates
A public notice dated October 4 listed 63 proposed stock codes. The targets selected include widely traded U.S. companies such as Nvidia, Apple, Microsoft and Tesla.
The list also includes at least a few companies related to cryptocurrency, such as Strategy (formerly MicroStrategy), Coinbase, Circle and Bitgo. This highlights that the proposed venue may be designed to combine mainstream market exposure and companies closely related to digital assets.
For investors, the importance of codelists lies in the practical level: not all equity has the ability to be tokenized and traded by default. A carefully planned equity portfolio can affect liquidity, entry needs, and the probability of pilot success-especially if on-chain trading is combined with a specific stablecoin infrastructure.
24/7 trading and stablecoin pairing: OKXICE's operating model
OKXICE stated that the platform plans to leverage the permission-based Uniswap v4 liquidity pool deployed on XLayer to operate 24 hours a day, 7 days a week.
In the proposed design, each tokenized stock will be paired with one of three stablecoins: USDC, Global Dollar (USDG), or USDT. This is critical because the choice of stablecoin affects the settlement mechanism, depth of liquidity and the operational complexity of market participants 'interactions with the venue.
By anchoring tokenized shares on mature stablecoin pairs, the joint venture appears to aim to strengthen the integration between traditional equity tokenization and on-chain trading infrastructure. This also reflects a broader industry trend: While tokenized securities introduce new compliance and custody considerations, trading layers often still rely on stablecoin liquidity to execute transactions.
Future Outlook: SEC Review and Market Structure Challenges
该合资企业的提交文件是在SEC于9月引入其临时豁免机制之后进行的，该机制为符合条件的场所上的某些代币化股票交易活动开辟了路径。根据该框架，代币化证券场所被允许通过自动做市商和流动性池提供代币化NMS股票的许可制交易——这种方法旨在测试链上市场结构是否能在既定的监管护栏内运作。
尽管如此，关于SEC处理和批准TSV活动的速度，以及哪些运营细节将受到最严格审查，仍存在不确定性。市场参与者应密切关注授权条件、合规要求的发展，以及SEC期望场所如何在许可制的链上交易环境中管理市场完整性、流动性和投资者保护。
对于关注代币化证券的读者来说，OKXICE的提交是从概念性代币化迈向受监管的链上交易试点的具体一步。这一举措可能会塑造其他项目如何解读SEC的创新豁免权，并决定面向股票的24/7链上交易能否超越初始代码集实现规模化扩展。
