OKX joint venture files with SEC to launch tokenized trading platform

By Gregor Stuart ‌Hunter

SINGAPORE, ​Oct ​5 (Reuters) - OKXICE, the joint venture between crypto exchange OKX and Intercontinental ‌Exchange, filed with the Securities and ⁠Exchange Commission on Sunday to launch a tokenized ‌securities platform for around-the-clock ‌trading of US stocks.

• More than 60 listed companies will be available for ​around-the-clock trading throughout the week, according to the filing

• "This is a landmark ⁠step toward a truly global, 24/7 Wall Street," said ​former New York Governor Andrew Cuomo, who is co-chair of OKXICE, in ​a post on the ‌X social media platform

• The SEC unveiled an exemption last ⁠month allowing companies to offer trading in blockchain-based or "tokenized" stocks and other securities. The move ⁠came two days after comprehensive cryptocurrency legislation backed ​by US President Donald Trump failed to advance in the Senate

• Global exchanges including the NYSE, Nasdaq ‌and the London Stock Exchange are preparing to launch round-the-clock trading ‌in the coming months

• Prediction markets' ⁠push into US ‌stock trading has ​recently raised regulatory concerns

(Reporting by Gregor Stuart Hunter; Editing by Priyanka ‌G)

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