More than 60 U.S. companies, including Nvidia, Tesla, Apple and Microsoft, could become available in tokenized form on a planned round-the-clock blockchain market backed by crypto exchange OKX and Intercontinental Exchange, the owner of the New York Stock Exchange. The proposed venue would let eligible investors trade digital representations of shares outside the normal hours of U.S. exchanges.
According to CoinDesk, the details appeared in a regulatory filing from OKXICE, a joint venture between OKX and ICE. The filing names dozens of potential securities, but it does not ensure that every company listed will ultimately trade on the platform. Companies have a 30-day period to object to the inclusion of their shares; Cerebras has already objected, the filing said. TD Securities analysts also cautioned that “no symbol is a given.”
What the tokenized shares would represent
Tokenization would create a blockchain-based digital token linked to a conventional stock. In the example described in the filing, an Nvidia token would represent an entitlement to one Nvidia share rather than being a separate cryptocurrency with an unrelated value.
The underlying shares would be held by a registered broker-dealer on a one-for-one basis. That means each token would be backed by one corresponding share. Token holders would also receive the economic and shareholder rights associated with the stock, including dividends and voting rights, according to the filing.
The proposed list includes some of the largest U.S. technology companies, such as Amazon and Alphabet, alongside crypto-related businesses including Coinbase, Circle, Robinhood, Strategy and Securitize. Other names mentioned include JPMorgan, Goldman Sachs, Walmart, Netflix, Reddit and Boeing.
The arrangement would differ from buying shares through a conventional brokerage account. Instead of having a trade processed through the established stock-market infrastructure, an investor would purchase a digital representation recorded on a blockchain. The filing says investors would need to complete identity and anti-money-laundering checks, so the market would not be available to anonymous users.
Stablecoins and liquidity pools would replace the traditional order book
The proposed platform would use stablecoins rather than dollars for settlement. Stablecoins are digital assets designed to maintain a stable value against a reference currency. OKXICE plans to support USDC, USDT and USDG, each intended to maintain a value of $1.
The venue would also use a different trading mechanism from a traditional exchange. Rather than matching individual buy orders with sell orders in a conventional order book, tokenized shares and stablecoins would be placed in blockchain-based liquidity pools. Investors would trade against the assets held in those pools.
When a participant buys Nvidia tokens, for example, tokens would leave the pool while stablecoins enter it. That buying activity would push the pool’s price higher. A sale would have the opposite effect. Automated market makers, or AMMs, use rules to calculate prices based on the assets available and the activity in the pool.
The trading system would run on XLayer, a blockchain developed by OKX, while the pools would use infrastructure from decentralized exchange Uniswap. TD Securities said AMMs could range from conventional pools governed mainly by mathematical formulas to more actively managed arrangements. Professional trading firms could adjust prices and inventories using market information, while multiple pools could potentially be combined into a venue that more closely resembles a traditional stock exchange.
A major feature would be continuous operation. OKXICE plans to keep the venue open 24 hours a day, seven days a week, including overnight periods and weekends. An investor could therefore theoretically trade a tokenized Nvidia share on a Sunday, when Nvidia’s Nasdaq-listed shares are not trading. Prices on the blockchain venue would be formed by activity in its own pools rather than simply copying the latest Nasdaq price.
Adoption faces regulatory and liquidity questions
The project would provide a test of whether investors and companies want U.S. equities represented on blockchain networks. However, its initial importance to major financial institutions may be limited, TD Securities said, because U.S. investors already have efficient access to listed shares through established markets.
Corporate participation is another uncertainty. Companies can object to their inclusion, and the filing’s list should therefore be viewed as a proposed group of securities rather than a final product lineup. The analysts also pointed to uncertainty over the regulatory framework and limited enthusiasm among companies for having their shares tokenized.
The regulatory relief described in the material lasts five years rather than creating permanent rules. That could make large financial firms hesitant to invest in connecting their systems to the venue if its legal foundation might later change.
Liquidity will be especially important outside regular market hours. The platform would need sufficient participation from investors and trading firms to keep token prices closely aligned with the underlying stocks, particularly overnight and at weekends when U.S. exchanges are closed. Thin liquidity could make that alignment more difficult.
Even with those constraints, the venue could offer an early real-world test of competing approaches to putting U.S. equities on blockchain networks. Harvey Li, founder of Tokenization Insight, said the significance was less the launch of another tokenized-stock venue than the possibility that OKXICE could help show which market structure can scale most quickly and become dominant.
Moneyiar market picture
Moneyiar data at 10:09 a.m. on October 7, 2026, show Stable at $0.0276491262, down 0.82% over 24 hours and 3.27% over seven days. Ethereum Name Service was $6.4612532277, down 5.94% in 24 hours and 8.23% over seven days.
Aethir stood at $0.0067356116, down 7.64% over 24 hours but up 11.21% over seven days. Horizen was $6.7321740667 at 10:08 a.m., down 4.89% over 24 hours and 5.4% over seven days. These figures describe the supplied crypto-market data and are separate from the proposed tokenized-stock venue.
