OKX, ICE launch venture to expand crypto access to NYSE tokenized equities

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OKX, ICE expand NYSE access

Highlights

OKX and Intercontinental Exchange are forming a U.S.-registered broker-dealer and futures commission merchant to give OKX users access to ICE futures and NYSE-linked tokenized equities.
ICE's broader digital asset strategy includes its support for Bakkt, a $2 billion investment in Polymarket, and a strategic stake in OKX at a $25 billion valuation.
The venture underscores a trend among exchange operators and crypto platforms to create regulated connections between traditional securities markets and blockchain-enabled trading products.

Structure and regulatory plan

As reported by CoinDesk, the new venture between OKX and Intercontinental Exchange is being set up to operate as a U.S.-registered broker-dealer and futures commission merchant if regulators approve the plan.

The companies say the platform is intended to let OKX users in the U.S. and overseas access ICE futures and tokenized equity markets linked to the New York Stock Exchange. The venture also plans to explore other opportunities in blockchain-enabled markets that comply with regulation.

Trabue Bland, senior vice president at ICE, says in a statement that the partnership is a step toward building the infrastructure that will shape how global markets operate in the decades ahead. Cuomo says the next phase of financial markets depends on innovation and regulation advancing together, adding that the tie-up combines OKX's blockchain technology with ICE's market infrastructure.

Digital asset strategy and market impact

For ICE, the venture deepens a broader digital asset strategy that already includes support for Bakkt and a $2 billion investment in prediction market Polymarket, a deal that values that platform at up to $10 billion.

In March, ICE and OKX announced a separate partnership to introduce tokenized stocks and crypto futures products, and ICE also disclosed a strategic investment in the San Jose, California-based exchange at a $25 billion valuation. The latest venture signals that established exchange operators and crypto platforms are continuing to build regulated links between conventional securities markets and blockchain-based trading products.

Our previous coverage of stablecoin run risk examined how these tokens are increasingly embedded in market infrastructure rather than everyday payments, making a loss of confidence potentially more consequential. We noted that if large holders rush to redeem, issuers may be forced to liquidate reserve assets quickly—creating spillover risk to Treasury markets and broader financial stability as tokenized and blockchain-based settlement expands.

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