TLDR
- OKXICE will launch round-the-clock tokenized stock trading on Nov. 23 with more than 70 assets.
- The lineup is mostly crypto-linked firms and 59 Direxion ETFs after 67 companies objected to being listed.
- Trades run through Uniswap v4 pools on OKX’s X Layer network, with Securitize handling tokenization.
- Nasdaq and the IMF have raised concerns about split liquidity and higher volatility.
- Tokenized stocks and ETFs have a distributed value of $3.88 billion, up 13.4% in 30 days.
The joint venture between crypto exchange OKX and Intercontinental Exchange will start trading tokenized stocks on Nov. 23. The venue is called OKXICE. Intercontinental Exchange is the parent company of the New York Stock Exchange.
⚡️JUST IN: OKX and NYSE parent ICE will launch 24/7 tokenized U.S. securities trading on November 23 through their joint venture, OKXICE.
More than 70 assets are expected, including Coinbase, Circle, Robinhood, and Strategy securities, plus 59 Direxion ETFs.
The platform will… pic.twitter.com/TfRuuZrcV0
— Coin Bureau (@coinbureau) November 11, 2026
The firm said more than 70 assets are confirmed for trading around the clock. A spokesperson said not every asset will be available on day one.
Who made the list
The lineup includes Coinbase Global, Circle Internet, Robinhood, BitGo, Securitize and Better.com. Strategy will list both its common and preferred shares.
Asset manager Direxion will add 59 exchange-traded funds. The firm oversees $70 billion in assets.
This list looks different from the one OKXICE first proposed. That list held 62 companies from the tech, finance, retail and industrial sectors.
Of those 62 firms, 56 objected, which is about 90%, based on a CoinDesk tally. In total, 67 companies objected, including some outside the first list.
Apple, Microsoft, Nvidia, Amazon, Tesla and JPMorgan Chase were among those that opted out. McDonald’s, SpaceX and Coca-Cola also objected.
Under the SEC’s rules, companies get 30 calendar days to object after notice. This applies when an unaffiliated third party arranges the tokenization.
How trading will work
OKXICE will use Uniswap v4 liquidity pools on X Layer, OKX’s Ethereum layer-2 network. These pools use automated market makers. The software trades from pools of assets instead of matching buyers and sellers in an order book.
Securitize will provide the tokenization tools. The tokens represent security entitlements to the underlying shares. That keeps rights such as dividends, voting and corporate actions.
At first, the venue will be open to eligible U.S. customers of OKX Inc. They must complete identity checks and onboarding. The securities stay in customers’ own wallets, and OKXICE said it will not hold their assets or private keys.
OKXICE is the second venue to start under the SEC’s five-year “innovation exemption.” Canton-based TSV began earlier this month.
Concerns from regulators and rivals
In October, the International Monetary Fund published a study on tokenized stocks. It found they were about 1.5 times as volatile as the same stocks in traditional markets. Decentralized exchanges had the weakest liquidity.
The IMF also warned that combining trading and settlement on a blockchain could remove some safeguards. It said more leverage could raise the risk of fire sales and liquidity runs.
Nasdaq made a similar point in a January filing. It said trading on platforms outside traditional rails could split liquidity. That could make it harder for investors to get the best price.
Regular U.S. stock trading runs from 9:30 a.m. to 4 p.m. Eastern time on weekdays. Some brokers offer premarket, after-hours and overnight sessions.
OKXICE co-chair Andrew Cuomo said the current market structure was “built for another era.” He said investors would get the same rights, protections and ownership as holders of the underlying shares.
Direxion CEO Douglas Yones said the firm aims to give investors tools in the way they want to use them. The distributed value of tokenized stocks and ETFs reached $3.88 billion on Nov. 11. OKXICE announced its confirmed lineup that same day.
