PANews reported on October 5 that according to Bloomberg, OKX has submitted an application to 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. regulations to trade digital versions of public company stocks on encrypted platforms. The applicant, OKXICE LLC, is a joint venture between OKX and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. It plans to list the first batch of tokenized stocks of 63 New York Stock Exchange-listed companies. The issuer has a 30-day opt-out period before trading can begin. This move relies on the five-year "Innovation Exemption" launched by the SEC on September 17. The joint venture is co-chaired by former New York Governor Andrew Cuomo. According to the new regulations, tokenized securities must include dividends,
PANews reported on October 5 that according to Bloomberg, OKX has submitted an application to 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. regulations to trade digital versions of public company stocks on encrypted platforms. The applicant, OKXICE LLC, is a joint venture between OKX and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. It plans to list the first batch of tokenized stocks of 63 New York Stock Exchange-listed companies. The issuer has a 30-day opt-out period before trading can begin. The SEC passed a temporary exemption last month to pave the way for the trading of blockchain-based securities in the United States, and OKXICE is one of the first institutions seeking to operate a platform based on this. According to the new regulations, tokenized securities must include complete shareholder rights such as dividends and voting rights. ICE took a stake in OKX in March at a valuation of $25 billion.