OKXICE, the joint venture between OKX and NYSE owner Intercontinental Exchange, said its Tokenized Securities Venue will open on Nov. 23, allowing eligible U.S. customers to trade tokenized securities around the clock in the OKX app.
More than 70 assets are expected to be listed, including securities from Coinbase, Circle, Robinhood, Strategy, BitGo, Securitize and Better.com, along with 59 ETFs from Direxion. Strategy will also list its preferred stocks.
Launch lineup shifts to crypto-linked issuers
The roster differs sharply from the venue's initial plans. As of its Nov. 5 notice, 67 companies, including every member of the "Magnificent Seven" technology giants, had objected to having their shares traded on the platform. Coinbase, Robinhood and Strategy were absent from that list and are now among the launch issuers.
"The SEC has created a real opening for American markets to lead the next era of finance," said former New York Gov. Andrew Cuomo, who co-chairs OKXICE.
Tokenization and trading mechanics
Securitize will provide the tokenization infrastructure. Each token represents an entitlement backed one-for-one by a real U.S. share, carrying dividends, voting rights and other shareholder benefits, according to the announcement.
Trading will run through automated market maker pools built on Uniswap v4 on X Layer, OKX's Ethereum layer-2 network, and customers will hold their tokens in self-custodial wallets.
Strategy CEO Phong Le described tokenization on the venue as "a natural next step" for the company's preferred stocks, such as STRC.
Access and regulatory backdrop
Access is limited to eligible U.S.-based OKX customers who activate a CeDeFi Wallet, pass identity verification and complete onboarding with OKXICE.
The venue operates under the SEC's innovation exemption, which the agency unveiled in September after the Clarity Act failed to advance in the Senate. Under the exemption, companies can keep third-party tokenized versions of their stock off a given venue by objecting within 30 days.
The launch follows other tokenization activity on Wall Street. DTCC's new tokenization service, which runs partly on the Canton Network, went live in late October, and Morgan Stanley said it was among the first banks to use it.
