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OKX-ICE venture to open U.S. tokenized stock venue on Nov. 23

OKXICE said Wednesday it will open a tokenized securities venue on Nov. 23 with more than 70 assets after dozens of companies objected to listings, according to the venture and Decrypt.

Developing story: what's new
  1. Techmeme, OKX and 2 more are now reporting this
  2. New headline Was: “OKXICE to start 24/7 trading of tokenized U.S. securities Nov. 23”
  3. Still developing
  4. CNA is now reporting this

OKXICE, a joint venture of cryptocurrency exchange OKX and New York Stock Exchange parent Intercontinental Exchange, said Wednesday that its Tokenized Securities Venue will open on Nov. 23 for eligible U.S. customers in the OKX app2,3.

The venture said more than 70 assets are expected to be listed, including securities from Better.com, BitGo, Circle, Coinbase, Robinhood, Securitize and Strategy, plus 59 exchange-traded funds from Direxion2,3. Strategy will also list preferred stocks2.

Techmeme, citing Scott Patterson of Bloomberg, said 56 of 62 companies OKXICE had targeted objected to having their shares traded on the venue1. Decrypt, citing a Nov. 5 public notice, put the objector count at 67 companies, including every member of the so-called Magnificent Seven technology group3. The publicly available Bloomberg takeaways did not include that objection tally4.

Decrypt said Coinbase, Robinhood and Strategy did not appear on the Nov. 5 objector list and are among the launch issuers3. Bloomberg's takeaways said not all of the more than 70 planned assets will be available at the start4.

OKX said the venue will launch under the Securities and Exchange Commission's Innovation Exemption2. Decrypt reported the exemption, unveiled in September, lets companies keep third-party tokenized versions of their stock off a venue by objecting within 30 days3.

Securitize will provide tokenization infrastructure, OKX said, with each token representing a security entitlement backed one-to-one by an underlying U.S. share and carrying applicable dividends, voting rights and corporate-action participation2,3. Customers are to hold tokens in self-custodial wallets; OKX said the venue will not hold assets or private keys2.

Decrypt said trading will run through automated market maker pools built on Uniswap v4 on X Layer, OKX's Ethereum layer-2 network2,3. Access is limited to eligible U.S.-based OKX Inc. customers who activate a CeDeFi Wallet, pass identity checks and complete OKXICE onboarding2,3.

Trabue Bland, co-chair of OKXICE, said eligible investors will be able to access tokenized U.S. securities around the clock under the SEC exemption2. OKX quoted former New York Gov. Andrew Cuomo, who co-chairs the venture, as saying the SEC had created "a real opening for American markets to lead the next era of finance"2,3.

OKX's post said OKXICE TSV is offered by OKXICE LLC under a temporary SEC exemption, is not a registered exchange or broker-dealer and is not approved by the SEC2.

Sources

  1. TechmemeOKX and ICE's joint venture OKXICE plans to launch a US tokenized stock venue on November 23 and list 70+ assets; 56 of the 62 companies it targeted objected (Scott Patterson/Bloomberg)
  2. OKXDigital Securities are Coming to OKXICE TSV, with 70+ Assets to be Listed
  3. DecryptOKX-ICE Tokenized Stock Venue Sets Launch, Turning to Crypto Companies After Big Tech Opts Out
  4. BloombergCrypto’s Bid to Shake Up Stock Trading Revs Up Despite Backlash

How it’s being reported

5 sources
TechmemeCNA

OKX and ICE's joint venture OKXICE plans to launch a US tokenized stock venue on November 23 and list 70+ assets; 56 of the 62 companies it targeted objected (Scott Patterson/Bloomberg)

The Bloomberg headline numbers on launch date, asset count and issuer objections.

Points to Scott Patterson's Bloomberg report that OKXICE plans a Nov. 23 U.S. tokenized-stock launch with 70-plus assets after 56 of 62 targeted companies objected.

Leaves out Launch issuers, trading mechanics and the SEC exemption details in OKX's own post.