OKX and ICE Plan 24/7 Tokenized Stock Trading Despite Corporate Pushback
OKX and Intercontinental Exchange plan to launch a 24/7 tokenized stock platform for US clients on November 23. Despite offering over 70 assets, the venture faces intense pushback from major companies like Apple and Tesla opposing unapproved listings.
A joint venture between cryptocurrency exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange, plans to launch a 24/7 tokenized stock trading platform on November 23. Designed for eligible US clients, the service aims to provide round-the-clock access to digital tokens backed one-to-one by US securities, bypassing traditional market hours and enabling faster asset transfers and settlement.
According to official announcements, the marketplace will offer more than 70 assets at launch, including 59 Direxion exchange-traded funds and securities linked to companies such as Coinbase, Circle, Robinhood, BitGo, and Strategy. The platform will operate via the OKX app, utilizing smart contracts and liquidity pools rather than a conventional order book to facilitate continuous trading activity.
Corporate Opposition and Regulatory Hurdles
The primary challenge facing the initiative is fierce resistance from targeted public companies. A recent market tally shows that 67 firms have already voiced opposition, with 56 companies from the platform's initial roster—including major corporations like Apple, Meta Platforms, Nvidia, Nike, Costco Wholesale, and Tesla—refusing to be featured. While this pushback does not necessarily signal a rejection of blockchain technology, it highlights deep corporate concerns over unauthorized trading outside traditional frameworks and a lack of direct control.
The venture relies on a conditional temporary exemption from the US Securities and Exchange Commission intended for experimental tokenized securities platforms. The SEC emphasizes that inclusion on participant lists does not constitute an endorsement of the product or its data accuracy, and the venue itself is not a registered exchange. If successful, the project could accelerate the shift toward continuous digital asset trading, though regulatory roadblocks and corporate resistance threaten to complicate the path to a 24-hour stock market.
