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Following
USDG OKXICE plans to launch tokenized shares of 63 NYSE listed companies
OKXICE LLC (a joint venture between OKX and Intercontinental Exchange Group) filed a notice with the U.S. Securities and Exchange Commission (SEC) on October 4, announcing its intention to establish a tokenized stock trading platform for the U.S. market. The platform will initially cover 63 NYSE listed companies including Nvidia, Apple, Tesla and Coinbase.
According to Bloomberg, the proposal aims to establish a tokenized securities venue that complies with the SEC's innovation exemption framework and supports round-the-clock trading. Prior to the official opening of the market, relevant issuers will have a 30-day objection period. If no objections are received during this period, the transaction can be initiated.
Technology Architecture and Liquidity Mechanism
Andrew Cuomo, as co-chairman of OKXICE, said the platform will integrate more than 60 U.S. listed companies. Its core technology solution is based on a licensed Uniswap v4 mobility pool deployed on the XLayer network. Each tokenized stock will be paired with a stablecoin such as USDC, USDG or USDT, thereby achieving a seamless connection between the tokenized securities and the stablecoin liquidity.
This initiative began with the establishment of a 50:50 joint venture between OKX and ICE in June this year. The two sides are committed to developing the underlying infrastructure to support tokenized financial products.
Trading conditions under the SEC regulatory framework
The filing follows the five-year "innovation exemption" policy introduced by the SEC in September this year. The framework allows eligible venues to trade stock tokens from the National Securities Market System (NMS) via on-chain. However, compliance tokens must retain shareholder rights linked to traditional stocks, including dividend rights and voting rights.
In addition, the framework allows trading through licensed automated market makers (AMMs) and liquidity pools, and mandates issuers the right to object before trading begins. This exemption clause is valid until September 17, 2031.
Differences with existing international businesses and next steps
Currently, OKX has provided tokenized products for U.S. stocks internationally in accordance with Regulation S, but these products are not open to U.S. people and only provide price exposure without direct shareholder rights. In contrast, OKXICE's new platform will operate within the SEC's new framework, directly giving holders full shareholder equity and enabling uninterrupted trading rather than following traditional stock market trading hours.
OKX and ICE are meeting various regulatory requirements for the U.S. platform respectively. The platform will not be officially put into operation until the 30-day issuer objection period and other necessary regulatory approvals are completed. Prior to this, all trading activities will still be subject to the above established conditions.
