OKXICE Sets November 23 Launch for Tokenized U.S. Securities
The OKX and ICE venture plans to launch around-the-clock trading in more than 70 tokenized securities for eligible U.S. customers.
By Matthew BrienenLast updated
OKXICE plans to launch around-the-clock trading in tokenized U.S. securities on November 23, with more than 70 assets expected at the start.
Shares and ETFs on the initial list
The venture between crypto exchange OKX and Intercontinental Exchange plans to make the venue available to eligible U.S. customers through the OKX app. Its expected lineup includes securities from Coinbase, Circle and Strategy, as well as 59 Direxion exchange-traded funds, according to OKX.
The launch is planned for November 23. Until it happens, the announced date and initial asset list remain plans rather than evidence that trading is already live.
How the venue will operate
OKX says trading will use automated market maker liquidity pools built on Uniswap v4 on X Layer, its Ethereum layer 2 network. Those pools provide a different trading mechanism from a traditional stock exchange order book.
A tokenized security gives investors a way to trade a blockchain-based representation of a security. Investors still need to review the specific product's rights, eligibility requirements, custody arrangements and trading conditions.
Continuous trading can make it possible to react outside normal stock-market hours, but prices and liquidity can differ across venues. The rollout will test how much demand there is for these products and how the market functions when conventional exchanges are closed.