OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange, notified the U.S. Securities and Exchange Commission on Oct. 5 of plans to launch a permissioned, on-chain venue for tokenized U.S. stock trading on X Layer. The proposed market would operate under the SEC’s Innovation Exemption, a temporary conditional framework for certain tokenized securities venues.
The notification advances the partners’ tokenized-equities plans from a strategic relationship announced in March to a proposed trading venue. A notification is not, by itself, an indication that the venue has received regulatory approval.
OKXICE notifies SEC of proposed X Layer venue
According to The Block, OKXICE notified the SEC of plans for a permissioned, on-chain venue for tokenized U.S. stocks built on X Layer. The reported proposed lineup includes tokenized shares linked to Nvidia, Apple, Microsoft, Amazon, Coinbase, Robinhood, Circle and SpaceX, with participation and liquidity operating within a permissioned on-chain setting rather than an unrestricted crypto-market model. The report did not establish a launch date for the venue.
Innovation Exemption sets operating limits
The proposal is tied to the SEC’s Innovation Exemption, issued Sept. 17. The agency said the temporary, conditional exemption permits Tokenized Securities Venues to trade certain tokenized National Market System stocks through permissioned automated-market-maker liquidity pools.
That permission comes with conditions. The SEC framework includes limits on eligible symbols and trading volume, alongside transparency, investor-rights and trading-stoppage requirements, according to the agency’s announcement. Those conditions define the proposed venue’s regulatory perimeter rather than creating a general authorization for open tokenized-stock markets.
ICE investment laid groundwork
ICE, the parent of the New York Stock Exchange, announced a strategic investment and relationship with OKX on March 5. At the time, ICE said OKX planned to provide customers access to ICE’s U.S. futures and NYSE tokenized-equities markets, subject to regulatory approval.
ICE said its investment valued OKX at $25 billion and included an ICE board seat at OKX. The Oct. 5 SEC notification now provides a specific proposed venue for the tokenized-equities component of that relationship, while remaining within the conditions of the SEC’s exemption framework. ICE detailed the broader arrangement in its March announcement.
