OKX and the New York Stock Exchange's parent ICE will launch a tokenized stock marketplace on Nov. 23, offering more than 70 assets even as 67 major companies, including Apple, Tesla and Meta, have objected.
The partnership was announced today, with over 70 securities-such as shares from Coinbase, Robinhood, and Strategy (MSTR) plus 59 ETFs from Direxion-expected to be listed under a temporary SEC Innovation Exemption. Access will initially be limited to eligible U.S. OKX customers who hold a CeDeFi Wallet and have completed identity verification, and trading will run continuously via automated market maker pools built on Uniswap v4 on OKX's X Layer.
The venue, called OKXICE, is co-chaired by former New York Governor Andrew Cuomo and will not hold the underlying shares or private keys; tokens are paired with stablecoins and provide full shareholder rights. A Nov. 5 public notice listed the 67 objecting issuers, whose 30-day window to contest the tokenization has not yet expired, raising questions about whether the platform can attract sufficient liquidity after losing Apple, Tesla, Nvidia and most other large caps.
Securitize will supply the tokenization infrastructure, ensuring each token is backed one-for-one by a U.S. share held by a registered broker-dealer. The platform operates without an order book, credit extension, or primary offerings, and only approved wallets can trade or add liquidity. The SEC's Innovation Exemption, issued Sept. 17, allows tokenized securities venues to trade blockchain versions of U.S. stocks without traditional registration, provided issuers are notified and have the opportunity to object.
The test now is whether the venue can generate enough trading volume to matter when it opens in 12 days, given the high-profile objections and the absence of many of the nation's largest public companies.