OKXICE, a joint venture established by OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), will open a tokenised securities exchange on Nov. 23 local time.

According to a recent report by The Block, OKX and ICE are launching the exchange under the U.S. Securities and Exchange Commission (SEC) 'innovation exemption' programme.

Andrew Cuomo (앤드루 쿠오모), co-chair of OKXICE and former New York governor, said, "The future of finance is on the blockchain." He said there is an opportunity to build it in the United States with the standards and safeguards investors expect.

Under the innovation exemption programme, issuers can refuse to have their shares traded on certain exchanges. As of Nov. 5, 67 companies including Meta, Home Depot, Netflix, Tesla and Costco had refused trading.

OKX and ICE said they had confirmed listings for 70 names including Coinbase, Circle and Robinhood. The list also includes 59 exchange-traded funds (ETFs).

Nasdaq is also working with Kraken to pursue tokenisation. But it opposes the innovation exemption programme. John Zecca, Nasdaq's chief legal and regulatory officer, stressed that tokenisation could help issuers, but shares converted into tokens should be treated as the same shares and shareholders' original rights should be maintained.