OKX joint venture files with SEC to launch tokenized trading platform

OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange, submitted a filing with the Securities and Exchange Commission on Sunday to initiate a tokenized securities platform for 24/7 trading of US stocks. The filing revealed that over 60 listed companies will be accessible for continuous trading throughout the week.

Former New York Governor Andrew Cuomo, who serves as co-chair of OKXICE, expressed excitement over this development on the X social media platform, referring to it as a significant milestone towards a globally integrated 24/7 Wall Street. The Securities and Exchange Commission (SEC) recently approved an exemption enabling companies to offer trading in blockchain-based or tokenized stocks and other securities, following a failed attempt at comprehensive cryptocurrency legislation backed by US President Donald Trump.

Major global exchanges such as the New York Stock Exchange (NYSE), Nasdaq, and London Stock Exchange are also gearing up to launch round-the-clock trading in the near future. The push into stock trading via prediction markets has recently drawn regulatory scrutiny in the United States.