NYSE Affiliate to Launch 24/7 Tokenized Stock Trading This Month
By Dean Seal
New York Stock Exchange owner Intercontinental Exchange and crypto exchange OKX are set to launch a round-the-clock tokenized stock-trading platform in less than two weeks.
The companies' 50-50 joint venture OKXICE said Wednesday that starting on Nov. 23, eligible U.S. customers will be able to trade tokenized versions of more than 70 assets, including Coinbase and Robinhood stock, along with a few dozen exchange-traded funds managed by Direxion.
The Securities and Exchange Commission paved a path for tokenized U.S. stock trading in September when it started granting exemptions to let platforms trade digital tokens.
OKXICE, co-chaired by former N.Y. Gov. Andrew Cuomo and ICE Senior Vice President of Futures Markets Trabue Bland, filed for an exemption less than a month later.
"The SEC has created a real opening for American markets to lead the next era of finance," Cuomo said Wednesday.
Tokenized stock trading, once a niche option popular overseas, has been picking up steam in the U.S. as more traditional financial institutions adopt blockchain technology, the system that undergirds cryptocurrencies, in their internal plumbing. Major Wall Street firms have already turned Treasurys and money-market funds into tradable tokens.
By tokenizing stocks, investors can trade 24 hours a day, seven days a week rather than during set market hours. The new offering challenges traditional equity markets, and exchanges have pushed to create their own tokenized platforms while extending hours on their standard bourses.
Nasdaq is currently developing its own tokenized stock platform for the U.S. and invested in Payward, which is launching tokenized versions of more than 200 of the most-traded U.K. and European stocks.
Some major U.S. companies have pushed back on efforts to tokenize their stocks. Broadcom, Verizon Communications and UnitedHealth have all formally objected to the practice in a filing with the SEC.
Under the SEC's current guidelines, venues can trade a stock tokenized by a third party so long as they provide 30 days notice to the issuing company and don't receive an objection.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 11, 2026 11:33 ET (16:33 GMT)
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