OKXICE to Launch 24/7 Tokenized Stock Venue Under SEC Exemption
- OKXICE, a joint venture between OKX and Intercontinental Exchange, plans to operate a tokenized stock trading venue round-the-clock.
- The SEC’s Innovation Exemption allows this venue to trade tokenized stocks without registering as an exchange.
- Tokenized versions of over 60 U.S.-listed stocks will trade against stablecoins USDC, USDG, or Tether’s USDT.
- Chipmaker Cerebras Systems has objected to its shares being tokenized on the platform.
- Trading will occur through permissioned Uniswap v4 liquidity pools on XLayer, a layer-2 blockchain.
OKXICE aims to create a global trading environment by leveraging the SEC’s Innovation Exemption for tokenized securities trading. The initiative involves major companies like Nvidia and Tesla, with trades settled in stablecoins such as USDC and Tether’s USDT.
This move could significantly impact traditional exchanges by introducing decentralized finance elements into mainstream stock trading markets. (Source)
