OKXICE, the 50-50 joint venture between Intercontinental Exchange and cryptocurrency exchange OKX, has notified the SEC that it plans to operate a tokenized securities venue (TSV) under the exemption the Commission issued on September 17. Under the five year exemption, venues trading tokenized US stocks through permissioned automated market makers are not treated as exchanges, provided they meet certain conditions.
The notice covers more than 60 NMS stocks including Apple, Nvidia, Tesla, JPMorgan and Goldman Sachs. Each will trade against a payment stablecoin (USDC, USDG or USDT) in permissioned Uniswap v4 liquidity pools deployed on XLayer, OKX’s layer 2 blockchain. Under the TSV exemption, the venue must wait 30 days before trading begins, putting the earliest possible start in early November. AI firm Cerebras has already filed an issuer objection, preventing their stock from trading in the pools.
Andrew Cuomo, Co-Chair of OKXICE, called the filing “a landmark step toward a truly global, 24/7 Wall Street.” Star Xu, CEO of OKX, said the future of markets is “real ownership, onchain” and that “full shareholder rights are what make that possible.”
Although the venue uses decentralized exchange technology, OKXICE itself is firmly in charge. The joint venture creates every pool, permissions every wallet through soulbound tokens, can pause trading and upgrade contracts, and has administrative authority over the contracts, exercised through keys managed by its affiliate OKX Technology.
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