OKX submitted documents to the US Securities and Exchange Commission on Sunday to launch a tokenized stock trading platform, becoming one of the first major cryptocurrency exchanges to utilize the new US regulations. The new regulations allow digital versions of listed companies' shares to be traded on cryptocurrency platforms. OKXICE LLC is a joint venture between cryptocurrency exchange operator OKX and the New York Stock Exchange parent company Intercontinental Exchange. The company plans to apply for approval to provide the first batch of tokenized shares of 63 listed companies. Under the SEC's new framework, issuers have 30 days to opt out before trading can begin. The shares OKXICE plans to tokenize include Nvidia, Apple, Coca Cola, Cisco, and McDonald's. Intercontinental Exchange acquired a portion of OKX's shares in March, and the deal valued the latter at $25 billion. The two sides agreed to cooperate to develop a cryptocurrency futures business regulated by the United States. The joint venture OKXICE combines OKX's blockchain infrastructure with the intercontinental exchange's market technology. The SEC passed a temporary exemption last month, clearing the way for blockchain versions of securities to be traded in the US, opening a new battleground for cryptocurrency platforms to compete with traditional exchanges. OKXICE is one of the first companies to seek to operate a trading platform under this exemption.

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