Efforts to combine traditional stocks with blockchain technology in the U.S. financial market are gaining momentum. Global cryptocurrency exchange OKX is partnering with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), to build a platform for trading U.S.-listed stocks in the form of digital tokens.

■ Joint Venture 'OKXICE' Established in June... Former New York Governor Cuomo as Co-Chair

OKXICE, the joint venture established by OKX and ICE in June, is preparing a business to expand the trading methods of the U.S. stock market into a blockchain environment. The plan is to combine digital asset technology with the existing exchange-centered trading system, allowing investors to access U.S. corporate stocks in new ways.

Former New York Governor Andrew Cuomo is serving as co-chair of the joint venture. The involvement of a figure with political and administrative experience in a business connecting traditional financial markets and the digital asset industry is also drawing attention.

■ Business Plan Submitted to SEC... About 60 Initial Trading Targets

OKXICE reportedly conveyed its business plan to the U.S. Securities and Exchange Commission (SEC) on the 4th. The company's envisioned initial trading targets are approximately 60 companies listed on the U.S. stock market.

The target companies reportedly include global technology firms such as Nvidia, Tesla, Apple, Microsoft, Amazon, and Alphabet. Digital asset and financial platform companies such as Coinbase, Circle, and Robinhood are also on the list. Major financial companies like JPMorgan and Goldman Sachs, as well as companies from various industries including Walmart and Netflix, are also being discussed as candidates for trading support.

■ 'Not a Price-Tracking Product, but Actual Rights'... Tokens Embodying Dividends and Voting Rights

The core of this project is to realize the economic rights of stocks as tokens on the blockchain. Rather than simply creating digital products that track corporate share prices, the aim is to provide token holders with rights connected to actual shares. According to the business plan, token holders are designed to be granted rights such as dividends and voting rights linked to the underlying assets.

However, whether these rights are legally recognized as identical to actual share ownership, and through what procedures the rights can be exercised, may vary depending on the final product structure and regulatory approvals.

■ Aiming for 24-Hour Trading... Transactions via USDT and USDC Stablecoins

Changes to trading hours are also a key focus. The U.S. stock market currently operates around regular trading hours, with after-hours trading offered separately. In contrast, the platform pursued by OKXICE focuses on reducing time and day constraints by utilizing a blockchain-based liquidity system.

If the service is implemented as envisioned, investors will be able to trade tokenized stocks of U.S.-listed companies using dollar-pegged stablecoins such as Tether (USDT) and USD Coin (USDC). The goal of 24-hour trading means that trading demand for these assets can be reflected even during hours when the U.S. market is closed.

Of course, neither the timeline nor the final list of supported stocks has been confirmed. The trading structure or services offered could change depending on regulators' decisions and business preparation.

■ Beyond Bitcoin, Into the Securities Market... Stablecoins' Settlement Role Draws Attention

This move is significant as an attempt by a cryptocurrency exchange to expand its business beyond trading existing digital assets such as Bitcoin (BTC) and Ethereum (ETH) into the traditional securities market. If tokenization spreads, changes could occur in various areas of financial infrastructure, including trading, settlement, and asset custody. In particular, a structure in which stablecoins are used as a settlement method for stock trading could strengthen the connection between digital dollars and real financial assets.

However, the expansion of tokenized stock trading does not immediately guarantee price increases for specific cryptocurrencies or improved performance of related companies.

OKXICE Co-Chair Andrew Cuomo stated that asset tokenization is gradually developing into a practical business model within financial markets. He also expressed expectations that a blockchain-based round-the-clock trading system could improve trading efficiency and market accessibility.

■ Key Challenges: Investor Protection, Legal Rights, and Settlement Stability

Ultimately, the success of this project depends less on the technical implementation itself than on how well it satisfies investor protection, legal rights, and stable settlement structures required of mainstream financial markets. As U.S. digital asset legislation discussions continue, attention is focused on whether the OKX-ICE joint venture will translate into an actual trading service, and what kind of relationship stock tokenization will form with the existing securities market.

[This article was written based on provided business-related information, and some business plans and regulatory matters may change depending on official confirmation and subsequent procedures. This is not an investment recommendation for any specific cryptocurrency or stock. Digital assets and tokenized securities carry price volatility, liquidity, regulatory, and technological risks, and investment decisions and responsibilities rest with the investor. AI assistance was used in the writing of this article.]