OKXICE to Launch Tokenized Stocks Platform Under SEC’s Innovation Exemption on Nov. 23

The joint venture between NYSE’s parent ICE and crypto exchange OKX, OKXICE, will launch its tokenized securities venue (TSV) on November 23. This tokenized stocks platform launches following the SEC’s innovation exemption guidance earlier this year, which created the pathway for exchanges to offer these onchain securities to U.S. users.

OKXICE To Launch Tokenized Securities Venue On November 23

In a company release, the crypto exchange announced that eligible U.S. customers will be able to trade tokenized securities 24/7 through the OKXICE TSV starting on November 23. The exchange expects the TSV to list more than 70 assets, including securities from Better.com, BitGo, Circle, Robinhood, Securitize, and Strategy.

Furthermore, the TSV will list 59 Direxion ETFs, while Strategy plans to list its preferred securities such as STRC on the platform. This move follows the SEC’s release of the innovation exemption guidance in September, which paved the way for exchanges to launch these TSVs.

Commenting on the upcoming launch of the TSV, OKXICE Co-chair Andrew Cuomo said, “The SEC has created a real opening for American markets to lead the next era of finance. OKXICE TSV gives first movers the opportunity to bring their securities onchain through a compliant venue built for 24/7 markets and real shareholder rights,” adding, “The future of finance is onchain, and we have an opportunity to build it here in America, with the standards, safeguards and ambition that investors expect”

How The Platform Will Operate

The top crypto exchange also explained how the TSV will operate, noting that trading on the OKXICE platform will happen through automated market maker liquidity pools on Uniswap v4 on X Layer, which is the exchange’s Ethereum Layer-2 network. The TSV’s smart contracts will ensure that only eligible wallets can trade these tokenized securities.

Meanwhile, Securitize will provide the tokenization infrastructure. Each token on the trading platform will be backed 1:1 by the underlying share, with onchain shareholders enjoying benefits similar to those of holders of the physical shares. These benefits will include dividends, voting rights, and participation in corporate actions.

Lastly, customers will self-custody their tokenized securities, and OKXICE will not have access to customers’ private keys or their shares. As such, these customers will have to activate a CeDeFi wallet before they can begin trading these securities on the OKXICE TSV.