OKXICE to launch 24/7 trading in tokenized US securities

Nov 11 (Reuters) – OKXICE, the joint venture between crypto exchange OKX and Intercontinental Exchange, will launch a platform for round-the-clock ​trading in tokenized U.S. securities on ‌November 23, the companies said on Wednesday. Here are some more details: • The venture, which filed with the SEC in October to launch the platform, said ‌it ​would initially offer more than ⁠70 assets, including tokenized ⁠shares of Coinbase, Circle and Robinhood, and 59 exchange-traded funds from Direxion • The launch comes after more than a dozen major ​US companies objected to OKXICE offering tokenized versions of their shares on its ⁠platform, Reuters reported • The crypto ⁠industry argues tokenizing securities could ​revolutionize markets by allowing shares to be traded ​24/7 and settled instantly, boosting liquidity and ‌reducing transaction costs • The SEC paved the way in September, days after the US Senate failed to advance comprehensive cryptocurrency legislation, by ⁠rolling out exemptions to platforms that facilitate trading of tokenized stocks that offer the same rights and ⁠privileges as ‌the underlying securities • “The future of ⁠tokenized stocks should be built on ​real ‌shares, real shareholder rights and the ​protections investors ⁠expect. That’s how we build the next chapter of capital markets on the right foundation,” said Carlos Domingo, chairman and CEO of Securitize (Reporting by Pragyan Kalita in Bengaluru; Editing by ​Tasim Zahid)