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NYSE owner, OKX set Nov. 23 launch for tokenized stocks
- OKXICE, a venture of OKX and NYSE parent Intercontinental Exchange , will open round-the-clock tokenized U.S. stock trading Nov. 23, Reuters reported
reuters.com. - More than 70 assets, including Coinbase , Circle and Strategy , are confirmed, with trades routed through Uniswap-based pools on OKX's X Layer network
coindesk.com+1. - Bitcoin Magazine counts 67 companies, including Apple and Tesla , that objected under SEC rules letting issuers block third-party tokens of their stock
bitcoinmagazine.com+1.
OKXICE, the joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange , will open its platform for round-the-clock trading in tokenized U.S. securities on Nov. 23, the companies said Wednesday. Trading is set to begin at 9 a.m. ET that Monday.reuters.com+1
The venue will start with a lineup made up mostly of crypto-linked companies. Many large blue-chip issuers refused to let their shares trade there, and the launch will be one of the first real tests of the SEC's new framework for onchain stock trading.
A crypto-heavy roster
OKXICE has confirmed more than 70 assets, although a spokesperson said not all of them will be available at launch. The issuers include Coinbase , Circle , Robinhood , BitGo, Securitize and Better.com. Strategy will list both its common and preferred stock. Asset manager Direxion, which oversees $70 billion, will bring 59 ETFs.coindesk.com
The venture had hoped to list blue chips such as McDonald's , Coca-Cola The Coca-Cola Company and JPMorgan Chase , but those companies objected. Bitcoin Magazine counted 67 companies that have opted out, including Apple , Tesla and Meta .bitcoinmagazine.com+1
How the venue will work
The platform runs under the SEC's five-year "innovation exemption," which launched in September. It lets tokenized securities venues operate without registering as traditional exchanges. Under the exemption, a company can keep third-party tokenized versions of its stock off a given venue by objecting within 30 days. The announcement said the venue is not a registered exchange or broker-dealer and has not been approved by the SEC.finance.yahoo.com+2
Trades will go through automated market maker pools built on Uniswap v4 and deployed on X Layer, OKX's Ethereum layer-2 network. Securitize will provide the tokenization infrastructure. Each token is an entitlement backed one-for-one by a real U.S. share and carries dividends and voting rights. Customers will hold the tokens in self-custodial wallets.finance.yahoo.com
Limited access at first
At launch, only eligible U.S. customers of OKX Inc. can use the venue. They must pass identity checks, activate a CeDeFi Wallet and complete onboarding with OKXICE. ICE and an OKX affiliate each own half of the venture. OKXICE filed with the SEC in October to launch the platform. It was among the first applicants for a Tokenized Securities Venue after the regulator approved digital versions of stocks in September.rmb.reuters.com+2
Sources (10)
- 1 OKXICE to launch 24/7 trading in tokenized US securities www.reuters.com
- 2 OKXICE to debut tokenized stock trading with Strategy, Coinbase, Circle this month www.coindesk.com
- 3 OKX-ICE Tokenized Stock Venue Sets Launch, Turning to Crypto Companies After Big Tech Opts Out finance.yahoo.com
- 4 ICE And OKX Set Nov. 23 Tokenized Stock Launch After 67 Companies Opt Out bitcoinmagazine.com
- 5 OKXICE sets Nov. 23 launch for tokenized securities venue under SEC innovation exemption www.theblock.co
- 6 OKXICE Tokenized Stock Venue to Open Nov. 23; Circle, Coinbase, Robinhood Among 70+ Assets finance.yahoo.com
- 7 Crypto's Bid to Shake Up Stock Trading Revs Up Despite Backlash www.bloomberg.com
- 8 OKXICE to launch 24/7 trading in tokenized US securities rmb.reuters.com
- 9 Crypto’s Bid to Shake Up Stock Trading Revs Up Despite Backlash ca.finance.yahoo.com
- 10 OKXICE to Launch Tokenized Stock Trading with Coinbase ... finance.yahoo.com
