Cryptoupdated 1h ago2 min read
OKXICE Files With SEC To Launch 24/7 Tokenized U.S. Stock Trading On Uniswap v4
OKXICE filed with the SEC to launch tokenized U.S. stock trading under new rules. The venue will list more than 60 U.S. stocks, including Nvidia, Tesla, and Apple.
15 outlets told this the same way.
Outlets did split on Cathie Wood Tells Investors To Follow AI Agents Spending Money, Panel Warns Of Control →
OKXICE files for 24/7
OKXICE, the 50-50 joint venture between OKX and Intercontinental Exchange, notified the U.S. Securities and Exchange Commission that it intends to launch a tokenized securities venue for tokenized U.S. stocks.
“OKXICE LLC, a joint venture between the cryptocurrency exchange operator OKX and the New York Stock Exchange parent company Intercontinental Exchange Inc.”
OKXICE said the platform would operate 24/7, trading tokenized shares against stablecoins and using Uniswap v4 liquidity pools deployed on XLayer.
OKXICE’s filing listed 63 proposed ticker symbols, including Nvidia, Apple, Microsoft, and Tesla, and it also included crypto-linked companies such as Strategy, Coinbase, Circle, and BitGo.
OKXICE co-president Andrew Cuomo said, “The digital asset revolution is already transforming our financial system. Tokenized securities are part of what’s coming,” as the venture sought SEC clearance for the onchain market.
How the onchain market works
OKXICE planned to support USDC, USDT and USDG, three cryptocurrencies designed to maintain a $1 value, and it said investors would buy and sell tokenized stocks using those stablecoins rather than dollars. OKXICE said the venue would not use a traditional system of matching a buyer’s order with a seller’s order, and instead it would rely on blockchain-based pools known as automated market makers, or AMMs.
OKXICE said the trades would take place on XLayer, a blockchain developed by OKX, and the pools would use decentralized exchange Uniswap’s plumbing. TD Securities analysts argued, “We see Prop AMMs and managed Multi-Pool Venues as much more consequential than conventional AMM models,” describing liquidity providers as “less likely to be picked off by stale prices.”
Objections, limits, and next steps
OKXICE said inclusion in the filing does not guarantee that every stock will trade because companies can object to having their shares included during a 30-day window, and Cerebras objected to the inclusion of its stock. OKXICE’s notice also described a waiting period, because the venue must wait 30 days before trading begins, putting the earliest possible start in early November.
“The OKXICE notice covers more than 60 NMS stocks including Apple, Nvidia, Tesla, JPMorgan and Goldman Sachs.”
OKXICE’s notice said the SEC’s five-year innovation exemption caps how much a venue can trade, and it set a limit of at most 75 symbols and no more than 0.25% of a stock’s prior-month average daily volume for Tier 1 symbols. Andrew Cuomo called the filing “a landmark step toward a truly global, 24/7 Wall Street,” while the SEC’s exemption framework conditioned the experiment on the tokenized securities meeting the rules for the onchain venue.