OKX and NYSE Parent ICE File for 24/7 Tokenized Stocks
OKX and Intercontinental Exchange have filed with the SEC to launch a round-the-clock trading platform for tokenized U.S. stocks.
OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, have taken a step toward round-the-clock trading by filing with the Securities and Exchange Commission to launch a platform for tokenized U.S. stocks, according to YahooStocks0.
Joint Venture and Platform Details
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The joint venture, designated as OKXICE, aims to bring shares from more than 60 companies onto the blockchain. This infrastructure will allow investors to trade equities such as Nvidia, Apple, Microsoft, Amazon, Coinbase, and Robinhood outside of traditional market hours. According to OKX Global General Manager Lennix Lai, the partnership seeks to bridge the gap between traditional finance and cryptocurrency markets.
The proposed platform is designed to operate under a new SEC exemption tailored for tokenized securities trading. Transactions will execute on blockchain infrastructure rather than depending exclusively on traditional exchange operating hours. Lai stated that the model intends to deliver full shareholding rights and pass-through dividends, ensuring that holding the tokenized share equates to holding the underlying asset.
Market Impact and Global Access
Proponents of the platform argue that extending trading hours to a global audience will enhance liquidity and potentially improve valuations for publicly traded companies. While digital assets like Bitcoin and Ethereum have traded continuously for years, traditional stock investors have historically been restricted by exchange hours.
The framework provides issuers with an opportunity to object to having their shares offered through the venue. Executives at OKX anticipate that traditional financial instruments will gradually migrate to blockchain-based systems, potentially accounting for a significant portion of future trading volume.
Key facts
- OKX and Intercontinental Exchange filed with the SEC to launch the OKXICE platform.
- The platform intends to offer round-the-clock trading for tokenized shares in over 60 companies.
- Eligible assets include shares of Nvidia, Apple, Microsoft, Amazon, Coinbase, and Robinhood.
- The proposal includes provisions for full shareholding rights and pass-through dividends.
Source: coinage.media
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