OKXICE Maps Out 24/7 Market for 63 Tokenized U.S. Stocks

OKXICE has outlined a round-the-clock venue for trading tokens tied to 63 U.S. stocks, with screened wallets trading against stablecoin liquidity pools on XLayer. The proposal describes a planned market, and no launch date has been announced.

OKXICE is a 50-50 joint venture between Intercontinental Exchange and OKC USA. Its proposed Tokenized Securities Venue would use Uniswap v4 pools with an OKXICE smart-contract extension to restrict access. Each stock token would be paired with USDC, USDG or USDT, and trades would take place against the pools rather than through a conventional order book.

Prices would change as pool balances shift. The venue would not hold participants’ assets in custody or extend credit.

Trading and liquidity provision would be limited to wallets that pass identity, compliance and wallet screening. Approved wallets would receive a non-transferable credential for access.

The proposed list includes 63 stocks, among them Nvidia, Tesla, Apple, Microsoft and Amazon. The lineup is provisional: Cerebras Systems had objected to its inclusion as of Oct. 4.

For tokens issued by an unaffiliated third party, a registered broker-dealer would hold one underlying share for each token outstanding. Each token would represent an entitlement to one share, including associated rights such as dividends and voting, subject to the stated verification procedures.

The proposal follows a Sept. 17 Securities and Exchange Commission (SEC) order granting temporary, conditional relief to qualifying venues trading tokenized National Market System stocks. The framework includes symbol and volume limits, permissioned access, issuer objection rights and coordination of trading halts with the underlying stock’s primary exchange. The relief expires five years after publication.

OKXICE is not registered with the SEC for the activities described, and the agency has not reviewed the notice’s merits or accuracy. Intercontinental Exchange announced its strategic relationship with OKX in March, with access to NYSE tokenized equities contingent on regulatory approval. The proposed venue’s launch date and final stock lineup remain unannounced.