- Crypto exchange OKX and NYSE parent Intercontinental Exchange plan to launch tokenized stock trading through OKXICE on November 23.
- At least 67 companies have objected to their shares being listed, while Nasdaq has raised concerns about fragmented liquidity.
- The platform plans to offer more than 70 assets, including 59 ETFs and tokenized shares of major companies, with round-the-clock trading for eligible US customers.
New Platform Plans November Launch
Cryptocurrency exchange OKX and the parent of the New York Stock Exchange, Intercontinental Exchange (ICE), are set to launch their new tokenised stock trading platform ‘OKXICE’ on 23rd November. The platform will allow qualifying U.S. customers to trade tokenised shares 24/7.
Real shares, backed 1:1, held in your own wallet and tradeable 24/7.
The OKXICE Tokenized Securities Venue is bringing America’s capital markets onchain on November 23.
Read the full blog: https://t.co/kD1vfYQo3h https://t.co/VLXXSn9qiw
— OKX (@okx) November 11, 2026
However, the launch of the platform has been criticised by several companies. Up to 67 different companies, including big names such as JPMorgan Chase, McDonald’s, SpaceX and Coca-Cola will have their shares not listed on the platform.
The platform will be launched on a temporary Innovation Exemption provided by the U.S. Securities and Exchange Commission. This means that platforms need to let companies know that they can object to their tokenised versions of their shares being listed.
Tokenised stocks are digital tokens which are created on a blockchain. They represent a company’s shares or track the market price of them. The rights of the tokenised stock depends on how they are structured.
Concerns Over Liquidity
There have also been concerns about liquidity of the stock market. This refers to how easily investors can buy/sell an asset. Nasdaq has said that by allowing investors to trade the same shares on traditional stock exchanges and blockchain platforms could lead to market fragmentation. This could cause issues with investors getting the best price.
In an October study, the International Monetary Fund said there were some risks involved. They said tokenised stocks tended to be around 1.5 times more volatile than traditional stocks. They also had less liquidity on decentralised exchanges and sometimes had increased volatility.
The IMF has also said that having trades and settlements on a blockchain could mean some protections are lost which financial markets have in place to handle sudden shocks. More leverage and increased correlations between traditional and tokenised markets could increase the risk of financial problems.
Over 70 Assets To Be Listed
OKX hope to list over 70 assets on the platform. They plan to include 59 ETFs. Companies like Coinbase, Circle, BitGo, Robinhood and Strategy will all have their tokenised shares listed. Strategy’s preferred shares will also be listed.
The total value of tokenised stocks and ETFs reached around $3.88 billion on the 11th November. This was an increase of 13.4% from the last 30 days.
Andrew Cuomo, former governor of New York and co-chair of OKXICE has defended the project. He believes that investors should have the right to trade 24/7 whilst still maintaining the rights of traditional shares.
Traditionally U.S. stock markets trade between 9.30am and 4pm ET on weekdays. Although some brokers currently offer extended hours trading, this platform aims to allow investors to trade all day and night.
Overall the launch shows the increasing popularity of traditional stocks moving onto blockchains. However, investor protection, liquidity and rights of tokenised shares will be key considerations going forward.
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