The venture between OKX and NYSE parent ICE is preparing to bring share trading onto a blockchain. Its disclosure sets out who may participate and the rights that stock tokens must carry.
OKXICE, the joint venture between OKX and New York Stock Exchange parent Intercontinental Exchange (ICE), has outlined plans for trading tokenized US shares 24 hours a day, seven days a week. Its October 4, 2026 public notice describes a venue running on X Layer. The company’s platform page still presents the service as coming soon.
The disclosure lists shares in companies including Nvidia, Apple, Microsoft, Coinbase and Robinhood. The operator will be Texas-based OKXICE LLC, owned equally by ICE and OKC USA Holding. The proposed structure goes beyond putting a conventional exchange interface on a blockchain.
Permissioned liquidity pools instead of an order book
Rather than matching buy and sell orders in a book, the venue plans to use Uniswap v4 liquidity pools. Stock tokens will be paired with USDC, USDG or USDT. Prices will depend on the ratio of assets within each pool; the notice says the smart contracts do not directly use external price feeds. Being available around the clock therefore does not mean that a pool will always produce the same price as a traditional exchange.
X Layer is a public network, but participation in these pools will require permission. Users must complete identity and sanctions checks, verify a self-custodial wallet and open an account with the entity responsible for tokenization. Approved wallets will receive a non-transferable access token, which will be checked for trading and liquidity transactions.
OKX founder and CEO Star Xu emphasized the early stage of the project in an October 5 post on X:
“We’re still early.”
The shares and rights behind each token
For shares tokenized by an unaffiliated third party, the document describes one-for-one backing. The underlying stock will be held through a registered broker-dealer, while each token represents an entitlement to a share. Dividends, voting rights and claims on residual assets must match those attached to traditional stock of the same class. The tokenizer’s procedures for passing those rights to holders will also be reviewed.
Tracking a share price is therefore different from holding the rights associated with that share. When comparing crypto exchanges available to US users, the legal structure of a product matters alongside fees and access conditions. The OKXICE disclosure identifies the service charge, liquidity pool fee and network fee as separate costs.
A disclosure is not a launch or SEC endorsement
The plan relies on the temporary, conditional relief announced by the SEC on September 17. The framework gives qualifying tokenized stock venues a five-year exemption, subject to conditions including symbol and volume limits, preservation of shareholder rights and coordination with trading halts in the underlying shares.
The notice has clear limits. OKXICE states that it is not registered with the SEC for these activities and that the regulator has not endorsed the merits or accuracy of its disclosure. The announcement does not establish that investors can trade today, and the company page gives no firm launch date.
