OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), will launch its blockchain-based securities trading platform on November 23. The venue has confirmed more than 70 assets, including Coinbase shares and 59 Direxion exchange-traded funds (ETFs).
Trading will operate around the clock, although some assets will join after the initial launch. The announcement follows widespread objections from companies that appeared on the venture's original listing proposal.
OKXICE announced its launch date on Wednesday, marking the next stage of its planned entry into tokenized securities trading. ICE, the parent company of the New York Stock Exchange, partnered with OKX to develop the venue.
The confirmed lineup includes Coinbase Global, Robinhood, BitGo, Securitize and Better.com. Strategy will also list its common and preferred shares. Together, these additions form part of the venue's revised asset selection.
Meanwhile, Direxion will bring 59 ETFs to the platform. The asset manager oversees USD 70 billion in assets and offers investment products designed for specific trading strategies.
Direxion CEO Douglas Yones said the company's mission involves providing investors with precise tools through their preferred trading methods. He also linked the decision to changes in trading behavior.
Although OKXICE has confirmed more than 70 assets, a spokesperson said the full selection will not become available immediately. The company has not specified which securities will begin trading on November 23.
OKXICE will operate under the U.S. Securities and Exchange Commission's five-year innovation exemption. The framework allows eligible venues to trade tokenized stocks through blockchain networks using automated market makers.
The platform will become the second venue to launch under the program, following Canton-based TSV earlier this month.
Unlike conventional stock exchanges, automated market makers use asset pools to process transactions. Software executes trades through these pools instead of matching individual buy and sell orders. OKXICE will use Uniswap v4 liquidity pools on X Layer, OKX's Ethereum layer-2 network. Securitize will provide the infrastructure needed to tokenize the underlying securities.
The tokens will represent security entitlements linked to the underlying shares. Investors will retain shareholder rights, including dividends, voting privileges and participation in corporate actions.
OKXICE co-chairman Andrew Cuomo welcomed the regulatory framework, saying it creates an opportunity for American financial markets to advance blockchain-based trading. Still, the SEC framework also gives companies the right to object when unaffiliated third parties propose tokenizing their securities.
Read More: OKXICE Enters Tokenized Stock Market with 24/7 Trading Platform
The final selection differs substantially from OKXICE's original proposal, which covered technology, financial, retail and industrial companies. 56 of the 62 companies on the original list objected to the proposed listings. That represents approximately 90% of the initial selection.
The total number of objections reached 67 after companies outside the original list also raised concerns. Apple, Microsoft, Nvidia, Amazon, Tesla and JPMorgan Chase were among those opting out.
Under the SEC framework, issuers receive 30 calendar days to object after notification of proposed third-party tokenization. The provision allows companies to respond before their securities enter the trading system.
The objections reflect concerns about trading outside established stock market structures. They do not necessarily indicate opposition to blockchain tokenization itself.
How will OKXICE provide access while allowing investors to retain control of their securities? Initially, the venue will serve eligible U.S.-based OKX Inc. customers who complete identity verification and onboarding requirements. Customers will hold their tokenized securities in self-custodial wallets.
OKXICE will neither hold customer assets nor control their private keys. Instead, investors will manage their holdings directly while using the platform's blockchain-based trading infrastructure.
OKXICE plans to begin tokenized securities trading on November 23 with more than 70 confirmed assets, including Coinbase shares and 59 Direxion ETFs. The launch follows widespread corporate objections and will operate under the SEC's innovation exemption. Eligible U.S. customers will access trading through self-custodial wallets.