ICE and OKX Partner for Tokenized Securities on Wall Street

ICE and OKX Forge Joint Venture for Digital Asset Products

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, and OKX, a prominent cryptocurrency exchange, have announced a strategic joint venture to develop tokenization and digital asset products. The collaboration, revealed on Monday, is contingent upon regulatory approval.

Upon completion, the venture aims to provide OKX’s global customer base with access to tokenized equities listed on the NYSE, as well as exposure to futures contracts offered by ICE.

“The ICE-OKX joint venture is a step towards building the infrastructure that will define how global markets operate in the decades ahead,” stated Trabue Bland, senior vice president for futures exchanges at ICE. Bland further indicated that the initiative seeks to expand ICE’s offerings to the approximately 120 million retail traders who utilize OKX.

The joint venture will be co-chaired by ICE and Andrew Cuomo, former New York Attorney General and Governor, who has been associated with OKX since 2023.

“The next chapter of financial markets will be defined by how well innovation and government regulation can move forward together,” Cuomo remarked in a statement. He also expressed enthusiasm for the potential societal impact of blockchain technology, citing its capacity for “the democratization of finance, bringing basic financial services to underserved populations.”

Specifics regarding the types of tokenization or blockchain initiatives the joint venture will undertake were not immediately available. While representatives from both firms did not respond to requests for comment from Decrypt, an OKX spokesperson informed Fortune that the venture will concentrate on tokenizing NYSE-listed equities.

This announcement follows a prior collaboration earlier this year, where the two entities introduced crypto-native perpetual futures for oil to non-U.S. residents. The latest development also builds upon ICE’s earlier investment in OKX, where the NYSE parent acquired a minority stake in the international crypto exchange at a valuation of $25 billion.