Intercontinental Exchange (ICE), the parent company of the NYSE, is teaming up with crypto exchange OKX to build tokenization and digital-asset products in a new joint venture announced Monday.
The split venture—still subject to regulatory approval—aims to give OKX’s global customers access to tokenized NYSE equities and exposure to futures contracts offered by ICE. OKX earlier told Fortune the partnership will focus on tokenizing NYSE-listed stocks, though the firms have not released details on the specific tokenization models or underlying blockchain infrastructure they plan to use. Representatives did not immediately respond to a request for comment from Decrypt.
“This ICE–OKX joint venture is a step towards building the infrastructure that will define how global markets operate in the decades ahead,” said Trabue Bland, senior vice president for futures exchanges at ICE. ICE also noted the move could broaden its reach into OKX’s user base—roughly 120 million retail traders.
The venture will be co-chaired by ICE and former New York Attorney General and Governor Andrew Cuomo, who has advised OKX since 2023. “The next chapter of financial markets will be defined by how well innovation and government regulation can move forward together,” Cuomo said, adding that blockchain could help “democratize finance” and extend basic financial services to underserved populations.
This announcement follows recent collaborations between the two firms: earlier this year they launched crypto-native perpetual futures for oil (for non-U.S. residents), and ICE took a minority stake in OKX at a $25 billion valuation. If approved, the joint venture would mark a notable step toward bringing tokenized securities into mainstream market plumbing—potentially widening retail access to traditionally institutional products while raising questions about regulatory oversight and market structure.
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