OKXICE, the 50-50 venture between crypto exchange OKX and Intercontinental Exchange (ICE), which owns the New York Stock Exchange, has notified the U.S. Securities and Exchange Commission (SEC) of plans to create a venue for trading tokenized U.S. equities.

The proposed market would use the SEC’s newly introduced Innovation Exemption, opening the door to round-the-clock trading of blockchain-based representations of U.S.-listed stocks. Former New York Gov. Andrew Cuomo, who serves as co-chair of OKXICE, announced the initiative on X.

The platform is expected to launch with tokenized shares tied to more than 60 companies listed on U.S. exchanges.

Cuomo said the project combines the established infrastructure of traditional financial markets with blockchain technology. He told CoinDesk that OKX and ICE want to demonstrate whether 24/7 onchain markets can make trading and settlement more efficient while broadening market access.

Tokenized equities are digital representations of traditional shares recorded on a blockchain. Because they run on blockchain networks, these assets can potentially be traded outside conventional stock-market hours and settled more quickly than standard equities.

The plan follows an SEC decision on Sept. 17 to introduce an “Innovation Exemption.” The temporary, five-year framework permits qualifying venues to trade tokenized U.S. stocks through mechanisms such as automated market makers and liquidity pools.

The exemption comes with specific investor protections. Tokenized shares must retain the same rights as the underlying stocks, including voting and dividend rights. Companies whose shares are selected for tokenization also have 30 days to object.

OKX and ICE formed the 50-50 partnership in June to develop infrastructure for tokenized financial products.

The involvement of ICE, NYSE’s parent, reflects the increasing interest from traditional financial institutions in blockchain-based markets. Crypto exchanges have already offered tokenized U.S. stocks, although access has generally been limited to customers outside the U.S.

OKX currently offers more than 70 tokenized stock tickers through offshore arrangements, preventing U.S. investors from purchasing them. Despite that limitation, the tokenized-stock market has grown to about $3.2 billion, up 15% over the past month, according to RWA.xyz.

OKXICE now intends to establish an onshore, regulated market where tokenized U.S. stocks would retain the dividend and voting rights associated with their conventional counterparts.

The project does not yet have a confirmed launch date. Its rollout will depend on the 30-day objection period for listed companies as well as other regulatory steps. Cuomo indicated the venture remains in an early phase, saying, “And we’re just getting started.”