OKX has filed with the US Securities and Exchange Commission to launch a tokenized-stock trading platform in the United States. The exchange already offers Unified Tokenized Stocks (xStocks) offshore: that product line rolled out in mid‑July and grew from more than 40 US stocks and ETFs to over 70 by September, traded 24/7 priced in USDT with settlement on Solana and on X Layer. Those tokens are backed 1:1 by underlying shares held by third‑party issuers, but are currently synthetic and do not convey dividends or voting rights to token holders.
Regulatory dynamics shifted on September 17 when the SEC introduced a five‑year Innovation Exemption allowing qualified Tokenized Securities Venues (TSVs) to trade National Market System stocks on‑chain through approved automated market makers and liquidity pools, provided the tokens preserve actual shareholder rights. That requirement means OKX’s existing Regulation S offshore products would not qualify as‑is for the exemption. Separately, OKXICE LLC, the 50/50 joint venture with Intercontinental Exchange, has notified the SEC it intends to launch a TSV offering tokenized shares in more than 60 US‑listed companies; that effort depends on broker‑dealer and futures commission merchant approvals. Key developments to watch are whether the SEC filing becomes public, how any US product is structured relative to the Innovation Exemption, and the outcome of OKXICE’s regulatory applications.
OKXICE files for 63 stocks
New filings show OKXICE — the 50/50 venture between OKX and Intercontinental Exchange — has formally sought to offer tokenized shares initially covering 63 NYSE‑listed companies. The paperwork, filed under the SEC’s Innovation Exemption framework, has not yet appeared in searchable SEC records so the individual issuers were not publicly identified. The submission clarifies that OKXICE intends to notify underlying issuers before third‑party tokenized versions are offered, activating the SEC’s 30‑calendar‑day window during which an issuer can object and block that token from trading under the exemption. If an objection is timely, the venue must disclose it within five business days and cannot make the token available under the temporary relief.
The filings also underscore the operational requirements the venture must satisfy: smart contracts must be public and auditable on a permissionless ledger, trading of a tokenized share must halt if the corresponding conventional stock is halted, and venues must publish machine‑readable transaction data with 30 days retention and updates within ten minutes. OKXICE remains subject to further regulatory conditions, including securing broker‑dealer and futures commission merchant approvals, before commercial trading can begin.