Crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange plan to launch tokenized stock trading on Nov. 23 for eligible US customers, with trading available around the clock. The OKXICE venue is set to operate under a temporary US Securities and Exchange Commission exemption that requires companies to have a chance to object before an unaffiliated third party lists tokenized versions of their shares. Sixty-seven companies have objected, including JPMorgan Chase, McDonald’s, SpaceX and Coca-Cola.
OKX expects the venue to list more than 70 assets, including 59 exchange-traded funds. OKXICE co-chair Andrew Cuomo said investors would have the same ownership, rights and protections as holders of the underlying shares, though the rights attached to tokenized stocks depend on how they are structured. Nasdaq has warned that trading across disconnected platforms could split liquidity and make it harder for investors to get the best available price.
