ICE and OKX form 50-50 joint venture for tokenized markets

Intercontinental Exchange (NYSE: ICE) and crypto platform OKX announced the formation of a 50-50 joint venture aimed at building infrastructure for tokenized and digitally native financial products, according to a press release.

The venture, pending regulatory approvals, is expected to operate as a U.S. registered broker-dealer and futures commission merchant (FCM). Its stated purpose is to allow OKX's U.S. and international customers to access ICE futures and NYSE tokenized equities markets. The joint venture will also explore blockchain-enabled markets that are compliant with existing regulations.

Former New York Governor Andrew M. Cuomo, who also served as New York State Attorney General and U.S. Secretary of Housing and Urban Development, will co-chair the joint venture alongside ICE. Cuomo began working with OKX in 2023.

"The ICE-OKX joint venture is a step towards building the infrastructure that will define how global markets operate in the decades ahead," said Trabue Bland, Senior Vice President of Futures Exchanges at ICE. "ICE's global benchmarks and regulated market technology have earned the trust of institutions and traders everywhere and now, through our partnership with OKX, we are working towards extending that reach to OKX's 120 million retail traders."

The announcement follows ICE's strategic investment in OKX, which was disclosed in March. OKX, headquartered in San Jose, California, holds crypto licenses in the United States, the UAE, EEA, Singapore, and Australia.

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