OKB, the native token of crypto exchange OKX, shot past $100 after Intercontinental Exchange (ICE) — the parent company of the New York Stock Exchange — disclosed a strategic minority investment in the exchange. OKB climbed from roughly $77.65 to an intraday peak near $124 before trimming some gains as traders took profits, mirroring a broader market rebound after a rocky start to the month.
Deal details and strategic tie-ups
- On March 5, 2026, ICE announced it had taken a minority stake in OKX, valuing the exchange at $25 billion.
- As part of the agreement, ICE will take a seat on OKX’s board and supply live cryptocurrency price feeds to the exchange.
- OKX will move to list tokenized versions of NYSE-listed stocks and derivatives, making those products accessible to its more than 120 million users.
- The deal positions ICE to deepen its push into blockchain and tokenized markets; the firm has previously invested $2 billion in Polymarket (at a $9 billion valuation) and developed its own blockchain-based trading infrastructure.
Why the market reacted
The investment is a high-profile endorsement from one of the world’s leading financial infrastructure providers, underscoring growing institutional interest in digital assets. OKB — which powers platform utilities such as fee discounts, staking rewards, and access to tokenized TradFi products — saw daily trading volume surge more than 1,600% to over $421 million as excitement spiked. The price move also pushed OKB to intraday highs not seen since December 2025.
Executive comment
OKX founder and CEO Star Xu framed the tie-up as validation of the sector’s long-term role in financial markets: “ICE has built and operated some of the most important financial infrastructure in the world… Their decision to invest in OKX, and join our board, reflects a shared belief that digital asset technology will play an enduring role in the future of financial markets.”
Short-term outlook
While the deal bolsters OKX’s legitimacy and could accelerate institutional adoption of OKB-linked services, traders have already taken profits after the sharp spike. If the pullback continues from the intraday peak, immediate technical support sits near $91 and $80.
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