CONNECT WITH US
Web3 & Blockchain

Web3 & Blockchain

ICE and OKX Set Nov. 23 Tokenized Stock Launch After 67 Companies Opt Out

Bitcoin Magazine logo

Published on

Add as a preferred source on Google
ICE and OKX Set Nov. 23 Tokenized Stock Launch After 67 Companies Opt Out

Bitcoin Magazine

ICE and OKX Set Nov. 23 Tokenized Stock Launch After 67 Companies Opt Out

OKX and New York Stock Exchange parent Intercontinental Exchange (ICE) will open their tokenized stock venue on Nov. 23, the companies said Wednesday, offering more than 70 assets under a temporary SEC exemption even as 67 companies, including Apple, Tesla and Meta, have already objected.

The OKX announcement said more than 70 assets are expected to be listed, including securities from Better.com, BitGo, Circle, Coinbase, Robinhood, Securitize and Strategy (MSTR), as well as 59 exchange-traded funds from Direxion. Strategy will also list its preferred stocks, such as STRC.

Access at launch is limited to eligible U.S. customers of OKX Inc. who have activated a CeDeFi Wallet, passed identity checks and completed onboarding with the joint venture, which is called OKXICE and is owned equally by ICE and OKC USA Holding Inc., an OKX affiliate. Trading will run around the clock in the OKX app.

“The future of finance is onchain, and we have an opportunity to build it here in America, with the standards, safeguards and ambition that investors expect,” said former New York Gov. Andrew Cuomo, who co-chairs OKXICE with Trabue Bland.

The companies did not say how many of the more than 70 assets will trade on the first day, or how much liquidity the pools will have at the open. The venue is not a registered exchange or broker-dealer and is not approved by the SEC, the announcement said.

Trading will run through automated market maker pools built on Uniswap v4 and deployed on X Layer, the Ethereum layer-2 network OKX operates.


Source link
Related Topics:Web3 & Blockchain

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.