OKX adds Cuomo to board as U.S. tokenized trading push expands

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OKX adds Cuomo for US push

Highlights

OKX appointed Cuomo to its board, expanding their partnership after last month's 50-50 joint venture with Intercontinental Exchange.
Cuomo advocates tokenized stocks for enabling fractional ownership, immediate settlement, and 24/7 access to boost foreign capital flows into U.S. markets.
Competitive pressure increases as Robinhood and Backpack offer tokenized U.S. stock trading to international and round-the-clock investors, challenging OKX in onchain equity markets.

Board appointment and tokenized trading strategy

The Block reports that OKX said Monday Cuomo had joined its board of directors, extending his existing relationship with the crypto exchange after last month’s 50-50 joint venture with Intercontinental Exchange, the parent of the New York Stock Exchange, in which he serves as co-chair.

Speaking on Fox Business on Monday, Cuomo presents tokenization as a way to modernize market infrastructure rather than simply a crypto use case. He says digital representations of stocks could enable fractional ownership and immediate transactions, allowing investors to buy portions of shares and trade them more efficiently.

Cuomo also argues that a 24/7 model for tokenized stock trading could widen overseas participation in U.S. markets. He says continuous international access could draw large amounts of foreign capital into the U.S. economy and domestic exchanges.

Competitive pressure in U.S. digital asset markets

OKX is one of the world’s largest crypto exchanges, but it remains behind Binance globally and faces a U.S. market led by Coinbase. Its latest move comes as tokenized equities attract growing attention from both crypto-native firms and established financial companies.

Across the sector, onchain stock trading is becoming a bigger strategic focus as companies seek to bring U.S. shares onto blockchain networks and broaden investor access. Robinhood already offers European customers tokens linked to hundreds of U.S. stocks and ETFs, while Backpack recently launched 24/7 trading in tokenized shares.

Cuomo’s support for crypto predates his new board role at OKX. During his unsuccessful New York City mayoral campaign last year, he proposed creating a chief innovation officer to advance the city’s adoption of blockchain and artificial intelligence.

Our earlier analysis of Coinbase (COIN) highlighted the stock’s attempt to hold above short-term technical support while still facing pressure below key medium- and long-term moving averages. We also noted how Brian Armstrong’s EU-focused incentive program aimed to spur new user signups and improve sentiment despite expectations of softer trading volumes and ongoing restructuring.

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