OKX and ICE Set Nov. 23 Launch for 70+ Tokenized Securities

Direxion ETFs anchor the OKXICE lineup

OKX also named Better.com, BitGo, Securitize and Strategy. It said Strategy would list preferred shares alongside its other securities. The 59 Direxion funds account for most of the announced catalog, a shift from the venture’s October proposal for 63 stock tickers, which named individual companies.

The November 5 public notice identified 67 objecting issuers. The list includes Apple, Meta and the rest of the Magnificent Seven. Of the 62 companies in the original notice, 56 appeared on the November list.

The venture said trading would start at 9 a.m. Eastern time, Unchained reported. A representative told the outlet that some announced securities may start trading after opening day.

Under the SEC’s September order, an issuer has 30 calendar days after receiving written notice to object to a venue listing an unaffiliated third party’s token. An objection submitted within that window bars the proposed listing on that venue under the exemption. The rule leaves issuers free to pursue their own tokenization arrangements.

Who can trade tokenized stocks in the OKX app

At launch, access is for eligible U.S.-based customers of OKX Inc. Customers must verify their identities, activate the app’s CeDeFi Wallet and complete OKXICE onboarding. Geographic and other eligibility restrictions apply, and the venue’s trading software limits both trading and liquidity provision to approved wallets.

Investors will hold the tokens in wallets they control. OKX says each token will represent a one-for-one entitlement backed by the underlying security, with applicable rights to dividends, votes and corporate actions. The public notice assigns responsibility for distributing payments and processing votes to the tokenizer.

The venue plans to pair the securities with payment stablecoins. Its pools use Uniswap v4 on X Layer, an Ethereum scaling network operated by OKX. Quotes come from the supply of the two assets in each pool. OKXICE says token prices can diverge from the underlying security, particularly when its primary exchange is closed or the pool has little liquidity.

How the SEC exemption limits OKXICE trading

The SEC’s order provides five years of conditional relief from exchange registration requirements. The agency’s venue directory records OKXICE’s October 4 notice of intent. The agency says appearing on that list does not establish that a venue meets the exemption’s conditions.

Another operator, TSV LLC, has already started trading under the same framework. Its rollout began with tokenized Canton Strategic Holdings shares. The OKXICE plan extends that experiment to a much larger lineup. The SEC caps each venue’s trading in a security against the underlying stock’s average daily share volume. The thresholds are 0.25% for Tier 1 securities and 2.5% for Tier 2 securities. OKXICE says it will also pause individual tokens when required by halts in their underlying markets.

Alternative.me’s Crypto Fear & Greed Index was at 29, in the Fear range, on November 11, down from 32 a day earlier.

OKX’s announcement gave no complete opening-day ticker list or figures for starting pool liquidity. The November 23 opening will establish which shares and funds users can trade first and whether the pools can handle orders without sharply moving prices.