OKX, ICE Plan US Joint Venture to Connect Tokenized Stocks With Digital-Asset Markets

Global crypto exchange OKX and Intercontinental Exchange Inc., the operator of the New York Stock Exchange, plan to form a joint venture focused on tokenized financial products and digital-asset markets.

OKX said June 22 that the two companies aim to create a venture with each holding a 50% stake and to seek US licenses as a registered broker-dealer and a futures commission merchant. Subject to regulatory approval, OKX users in the US and overseas would be able to access ICE's futures market and the NYSE's tokenized stock market.

The companies said the venture would help build next-generation financial infrastructure linking traditional financial markets with digital-asset markets. They also plan to jointly pursue new business opportunities tied to blockchain-based financial markets, subject to regulatory compliance.

The announcement follows ICE's strategic investment in OKX in March. The joint venture will be co-chaired by ICE and former New York Governor Andrew Cuomo. Cuomo has worked with OKX since 2023.

OKX Chief Executive Officer Star Xu said the future of capital markets will not be built by crypto alone. Technology, regulation, institutions and public policy must work together, he said, adding that the convergence of traditional and digital finance is becoming a reality.