Global cryptocurrency exchange OKX has announced the establishment of a joint venture with Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, to develop tokenized financial products and facilitate digital asset trading.
On June 22, OKX revealed that the joint venture will be structured with a 50-50 ownership split, aiming to build next-generation infrastructure for the tokenized finance and digital asset markets.
The joint venture is set to launch as a registered broker-dealer and futures commission merchant (FCM) in the United States, pending approval from U.S. regulatory authorities. This will enable OKX users in the U.S. and abroad to access the ICE futures market and the tokenized stock market based on the New York Stock Exchange directly.
The two companies plan to create infrastructure that connects traditional financial markets with the digital asset sector through this joint venture. They also intend to explore new business opportunities related to blockchain-based financial markets, contingent upon regulatory compliance.
The formation of this joint venture follows ICE's strategic investment in OKX announced in March. The joint venture will be co-chaired by ICE and former New York Governor Andrew Cuomo. Cuomo has previously served as New York Attorney General, the 56th Governor of New York, and Secretary of the U.S. Department of Housing and Urban Development, and has been collaborating with OKX since 2023.
Star Xu, CEO of OKX, stated, "The future of capital markets can only be shaped when technology, regulation, institutions, and public policy work together," adding that "the convergence of traditional finance and digital finance is becoming a reality."
* This article has been translated by AI.
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