Intercontinental Exchange (ICE) is forming a joint venture with crypto exchange OKX to develop tokenization and digital asset products. This venture is pending regulatory approval and aims to enable OKX customers access to tokenized equities on the NYSE and futures contracts from ICE.
Trabue Bland, ICE’s senior vice president, emphasized the project as pivotal in shaping the future of global markets. The initiative aims to serve the 120 million retail traders of OKX.
Co-chairing the venture, Andrew Cuomo, former New York Attorney General and Governor, highlighted the importance of innovation working alongside regulatory frameworks. He expressed enthusiasm for blockchain's potential to democratize finance, extending services to underserved communities.
While specific details about the tokenization efforts remain undisclosed, OKX representatives indicated a focus on tokenizing NYSE-listed equities. This venture follows ICE's earlier investment in OKX, acquiring a minority stake at a valuation of $25 billion.