The latest company to pursue tokenized trading in the United States has an unusual name: OKXICE. That mouthful of letters reflects a joint venture between crypto exchange OKX and ICE, parent company of the New York Stock Exchange, that was announced Sunday night. According to the company, it has filed with the Securities and Exchange Commission to launch a blockchain-based platform for trading tokenized versions of U.S. stocks around the clock.
The platform plans to offer more than 60 stocks and to let users buy and sell them with stablecoins, cryptocurrencies designed to maintain a fixed value against the U.S. dollar. Each token would be backed by an underlying share to represent ownership of a real stock rather than simply tracking its price. Trading would run on X Layer, a blockchain linked to OKX, under a new SEC exemption that allows certain regulated on-chain stock trading venues.
The news comes roughly three months after Fortune reported that Andrew Cuomo, the former New York governor, would become OKXICE’s cochair. In March, ICE announced an investment in OKX at a $25 billion valuation, putting roughly $200 million into the crypto exchange, according to Bloomberg.
“The market never sleeps, so why should trading?” Cuomo told Fortune in a written statement. “Ownership shouldn’t have office hours. We’ve said tokenized securities are part of what comes next, and this filing is a big step toward it.”
Tokenizing real-world assets has become one of crypto’s biggest draws for traditional finance. The value of tokenized assets topped $35 billion so far this year, according to a recent report from data analytics platform Dune. Tokenized stocks led that growth, climbing 2,000% as the number of active holders surpassed 1 million.
A recent SEC order also paved the way for the announcement. In mid-September, the regulator unveiled a five-year program that lets companies offer trading in blockchain-based versions of stocks under a temporary exemption from some rules that govern traditional exchanges such as Nasdaq and the NYSE.
The agency’s exemption came days after the Senate failed to advance the Clarity Act, a bill that would have created a national market structure framework for the crypto industry.
For Cuomo, the venture marks a deeper commitment to OKX.
The former governor began advising the exchange in 2023 as it faced a Justice Department investigation into potential anti-money-laundering violations. In February 2025, OKX pleaded guilty and agreed to pay roughly $500 million to resolve the case. The exchange relaunched in the U.S. two months later.