OKX Files Application with SEC to Launch Tokenized U.S. Stock Trading Platform

Tapbit news, October 5 – According to Bloomberg, OKX has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized stock trading platform, becoming one of the first mainstream exchanges to use new U.S. rules to trade digital versions of public company stocks on a crypto platform. The applicant, OKXICE LLC, is a joint venture between OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, and plans to initially list tokenized stocks of 63 NYSE-listed companies, with issuers given a 30-day opt-out period before trading can begin. The SEC paved the way last month for blockchain-based securities to trade in the U.S. through a temporary exemption, and OKXICE is among the first institutions seeking to operate a platform under it. Under the new rules, tokenized securities must include full shareholder rights such as dividends and voting rights. ICE took a stake in OKX in March this year at a $25 billion valuation.