NYSE owner heads onchain: OKXICE files to tokenize more than 60 US stocks
OKXICE, the OKX-Intercontinental Exchange venture, filed to offer more than 60 tokenized US stocks including Nvidia and Tesla, with one-for-one share backing and 24/7 onchain trading.
OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange, the parent of the New York Stock Exchange, has filed to offer more than 60 US stocks in tokenized form, including Nvidia, Tesla, Apple and Microsoft, under regulatory relief from the SEC.
The regulatory filing lists the securities the venture plans to make available as tokens. The roster spans Amazon, Alphabet, JPMorgan, Goldman Sachs, Walmart, Netflix, Reddit and Boeing, along with crypto-linked companies Coinbase, Circle, Robinhood, Strategy and Securitize.
The structure gives holders the rights that come with a real share. Underlying stock would be held by a registered broker-dealer on a one-for-one basis, so one Nvidia token would be backed by one Nvidia share, and holders would be entitled to dividends and voting rights, according to the filing.
Trading is planned around the clock, including nights and weekends, on XLayer, a blockchain developed by OKX. The filing contemplates liquidity pools run by automated market makers using Uniswap’s plumbing rather than a conventional order book, with USDC, USDT and USDG as settlement currencies. Investors must pass identity and anti-money-laundering checks before they can trade, the filing says.
Inclusion in the filing does not guarantee every listed stock will trade. Companies can object to having their shares tokenized during a 30-day window, and chipmaker Cerebras has already objected, per the filing, so the final tradable list may shrink.
The filing arrives as traditional market infrastructure moves further onto blockchains, with Securitize among the names in the roster already working with the NYSE on equities onchain. Analysts at TD Securities cautioned that near-term relevance for institutional investors looks limited, since US investors already have efficient access to listed stocks, and noted the SEC relief runs five years rather than establishing permanent rules, a horizon that may discourage large firms from connecting their systems. “No symbol is a given,” the analysts wrote.
A launch date and the final list of tradable stocks are not yet set.
