IBM, Oracle, Intel and IonQ join objections to OKXICE's tokenized stock plan, bringing the reported total to 26 as SEC issuer-consent rules face scrutiny.
Three companies have notified the U.S. Securities and Exchange Commission of their plans to operate tokenized securities venues following a new rule, according to the top regulator.
Tokenized Stock Venue, Perpetuals.com, and OKX have all submitted plans to operate by allowing trading of tokenized stocks, the SEC said in a Wednesday announcement.
Along with the Intercontinental Exchange, crypto exchange OKX was the first to file with the regulator to debut tokenized securities trading on a new platform, OKXICE.
The SEC in September said it was offering a five-year exemption to platforms that facilitate trading of tokenized stocks. Regulators like the SEC are pushing ahead with regulating the crypto space despite lawmakers blocking major digital asset legislation in September.
Tokenized stocks are the latest example of firms wanting to utilize Bitcoin’s underlying technology to help upgrade traditional finance. By putting stocks on the blockchain, traders can operate 24/7, according to proponents.
The SEC said Wednesday that just because the firms are on the list, doesn’t necessarily mean they meet all the requirements for the rule.
Wall Street’s top regulator is now very pro-crypto under U.S. President Donald Trump. SEC Chair Paul Atkins has said the regulator wants to “update” how it watchdogs securities, and “modernize them in the age of blockchain and crypto assets.”
Atkins has said that the regulator wants the U.S. to be on track to be the “crypto capital of the world.”
Under the previous Democratic Joe Biden administration, the SEC was hostile towards the crypto industry and hit major companies — including Coinbase and Kraken — with lawsuits. The regulator attracted criticism for so-called regulation by enforcement.
But under Trump, that has changed: the Republican campaigned on a ticket to help the crypto space and has signed a number of laws and executive orders aimed at helping the digital asset space.
Traditional finance titans like BlackRock and Franklin Templeton for years have used blockchain rails to tokenize money funds.
In January, the S&P 500 gave crypto platform Trade[XYZ] the green light to debut a new derivative contract on decentralized exchange Hyperliquid, giving traders the ability to trade the stock index 24-7.
TL;DR: OKXICE, the joint venture between OKX and Intercontinental Exchange, has notified the SEC of plans for a tokenized securities venue that would offer round-the-clock trading in US stocks. More than 60 companies are included in the initial plan, pushing one of crypto’s biggest tokenization ideas directly into regulated US market infrastructure.
One of the most consequential tokenized-stock experiments yet is moving toward the US market.
OKXICE, a joint venture between crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange, has notified the Securities and Exchange Commission of plans to launch a tokenized securities trading venue.
The proposal would bring blockchain-based versions of US stocks into an around-the-clock market rather than limiting trading to the conventional exchange session.
OKXICE intends to support more than 60 US-listed companies.
The list includes some of the biggest names in technology and crypto-linked equities, placing the project well beyond the proof-of-concept stage usually associated with tokenized shares.
The venue is being developed under the SEC’s innovation exemption framework.
That framework gives qualifying platforms a route to experiment with tokenized securities while still operating inside regulatory boundaries.
There is an important protection for the companies themselves.
Before a venue can begin offering a tokenized version of a stock, the issuer receives notice and has an opportunity to object.
That means tokenization cannot simply be imposed on a public company without a regulatory process around it.
The trading infrastructure is expected to use OKX’s X Layer blockchain.
For ICE, the project creates an unusually direct bridge between one of the most established names in global exchange infrastructure and blockchain settlement.
For OKX, it offers something equally valuable: a route into regulated US securities markets that goes far beyond crypto spot trading.
The implications could be substantial if the model works.
Tokenized equities promise continuous trading, programmable settlement and potentially easier movement of assets between financial applications.
But they also raise difficult questions around shareholder rights, custody, corporate actions and the relationship between the token and the underlying registered security.
Having the owner of the NYSE involved makes those questions much harder for traditional finance to ignore.
Crypto firms have talked about putting stocks on-chain for years.
This project is different because one side of the joint venture already operates at the center of the conventional stock market.
If OKXICE reaches launch, 24/7 tokenized equities will no longer look like something being built outside Wall Street.
Crypto exchange OKX has raised new funding at a $25 billion valuation, the company said on Tuesday, revealing investment from top digital asset companies.
The crypto exchange said in an announcement that stablecoin giant Circle, fintech firm Ripple and British bank Standard Chartered’s investment arm, SC Ventures, all participated in the fundraise.
We're announcing a strategic investment from @Circle, QRT, @Ripple and SC Ventures by @StanChart at a $25 Billion pre-money valuation.
This is how we're aligning critical builders behind our vision for the next generation of onchain markets.
Earlier this year, the Intercontinental Exchange invested in the digital asset firm in a move to accelerate tokenization. The two’s joint venture, OKXICE, filed with the Securities and Exchange Commission on Sunday to launch a tokenized securities platform for around-the-clock trading of U.S. stocks.
“Through strategic investment and partnership, OKX is aligning some of the most critical builders of financial infrastructure behind its vision for the next generation of onchain markets,” OKX said in a statement.
OKX CEO and founder Star Xu said that the capital would help the company tokenize real-world assets.
“The exchange was our starting point, and we are evolving into a broader global financial technology platform,” he added.
A number of top Wall Street firms are increasingly interested in the technology that powers Bitcoin. While traditional finance titans like BlackRock and Franklin Templeton for years have used blockchain rails to tokenize money funds. Tokenization has become a bigger buzzword on Wall Street since the U.S. elected pro-crypto president Donald Trump.
The president has appointed regulators that have taken a more friendly stance toward watchdogging the crypto space. The SEC in September approved tokenized stock trading.
Other big deals between TradFi and the crypto space include the S&P 500 in January giving crypto platform Trade[XYZ] the green light to debut a new derivative contract on decentralized exchange Hyperliquid, allowing traders to trade the stock index 24-7.
OKX has launched OKX Money, a standalone app focused on saving, sending and spending dollar-backed stablecoins.
The app combines eligible yield features with virtual and physical cards in supported markets.
OKX is targeting users who want dollar access without relying on a traditional foreign bank account.
OKX is taking stablecoins out of the exchange interface and putting them into a standalone consumer finance app.
OKX Money launched on October 6 with a pitch built around three ordinary financial jobs: save, send and spend digital dollars.
The app combines stablecoin balances, eligible earning features and payment cards rather than centering the experience on active crypto trading.
The Product Is A Bet On Stablecoins As Everyday Dollars
The exchange says the product is aimed particularly at people living in markets where access to U.S. dollars is expensive or inconvenient.
That could mean high foreign-exchange fees, limited access to dollar bank accounts or local currencies that lose purchasing power more quickly than users would like.
Stablecoins have already become a workaround for some of those problems.
OKX Money packages that behavior into a more conventional financial interface, with virtual and physical cards designed to make balances spendable at ordinary merchants.
OKX says foreign-exchange fees can add 2% to 5% to international purchases in some markets. The company is positioning digital-dollar balances as a way to reduce that friction.
A Consumer App Changes The Competitive Set
OKX built its name as a crypto exchange, but OKX Money competes as much with fintech apps and cross-border banking products as it does with other exchanges.
That changes what success looks like.
The user does not need to trade a perpetual contract or buy an altcoin for the app to be useful. They may simply want to hold dollar exposure, send money internationally or pay with a card.
Availability remains market-dependent, and stablecoin balances are not the same thing as insured bank deposits.
Yield features also introduce their own terms and risks.
Still, the product reflects a broader change in crypto.
Exchanges increasingly see stablecoins as a route into everyday financial services rather than merely the settlement asset users keep between trades.
If OKX Money gains traction, the company may find that the most mainstream part of its crypto business is the part where users barely think about crypto at all.
This article was written by the News Desk and edited by Samuel Rae.
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