OKXICE Plans 24/7 Blockchain Market for More Than 60 Tokenized US Stocks

OKX and NYSE owner Intercontinental Exchange have a joint venture, OKXICE, that plans to offer more than 60 US stocks in tokenized form, trading around the clock, nights and weekends included. A regulatory filing lists Nvidia, Tesla, Apple, Microsoft, Amazon and Alphabet, plus Coinbase, Circle, Robinhood, Strategy, Securitize, JPMorgan, Goldman Sachs, Walmart, Netflix, Reddit and Boeing. Companies have a 30-day window to object, and Cerebras already has. TD Securities analysts said no symbol is a given.

How Tokenized Stocks Work on OKXICE

Each token would be backed one-for-one by a share held at a registered broker-dealer, with dividends and voting rights passing to holders. Investors would pay in USDC, USDT or USDG instead of dollars. There is no order book. Trades run against blockchain-based pools, known as automated market makers, on OKX’s XLayer network using Uniswap’s technology. Prices come from the pools, not from the latest Nasdaq quote. Users must pass identity and anti-money-laundering checks.

Tokenized Equities: Limited Appeal for Institutions?

TD Securities sees limited near-term relevance for institutions, citing easy access to listed stocks, weak corporate interest and regulatory uncertainty, since SEC relief lasts only five years. It favors actively managed designs, such as Prop AMMs and multi-pool venues. Harvey Li of Tokenization Insight called the venue an early test of which model can scale US equities onchain.