OKX and ICE seek SEC approval for tokenised stock venue

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OKX and Intercontinental Exchange (ICE) are moving ahead with plans for a platform offering tokenised US equities.

Their 50-50 venture, OKXICE LLC, has notified the US Securities and Exchange Commission of plans to operate a tokenised securities venue under the regulator’s temporary innovation exemption.

The proposed platform would list 63 US stocks, including Apple, Nvidia, Microsoft and Tesla, as well as crypto-related companies such as Coinbase, Circle and Strategy. Trading would run 24 hours a day using permissioned liquidity pools on XLayer.

The tokenised shares would be paired with USDC, USDG or USDT. OKX and ICE formed the venture in June to develop infrastructure for tokenised financial products.