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OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange (ICE), will begin round-the-clock trading in tokenized US securities on November 23. The launch marks another attempt to bring traditional financial assets into the cryptocurrency market.
The platform will allow investors to trade digital versions of US securities outside regular stock market hours. Traditional exchanges operate on fixed schedules, but OKXICE wants to give users access to trading at any time of the day.
Tokenized securities are digital representations of financial assets recorded on a blockchain. The process allows ownership records to be managed through blockchain rather than relying entirely on conventional market infrastructure.
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The launch, however, comes with a major concern: Many companies do not want their shares traded in tokenized form on the platform. According to Reuters, 56 of the 62 companies initially identified for the service had objected by November 6. Their concerns centre on the use of their shares without direct involvement or approval from the companies themselves.
The objections could become a hurdle for OKXICE as it looks to attract investors. The platform's appeal will depend partly on which securities it can offer and how companies respond to the new trading model.
OKXICE brings together two players from different parts of the financial industry. OKX operates a major cryptocurrency exchange, while ICE owns the New York Stock Exchange and runs several traditional financial markets.
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The move reflects ICE’s interest in blockchain-based financial infrastructure. Meanwhile, crypto exchanges look to expand beyond digital currencies and offer products linked to traditional investments.
The November 23 launch will show how the platform plans to handle trading in tokenized securities and whether investors are willing to use it. It also comes at a time when financial firms are exploring blockchain technology, even as questions over ownership rights and issuer consent remain unresolved.