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OKX and NYSE Parent ICE File for 24/7 Tokenized U.S. Stock Trading

(3 hours ago) · 2 sources · Summarized by CryptoBipto

A joint venture between cryptocurrency exchange OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has filed to offer round-the-clock trading of tokenized U.S. stocks. The filing would allow investors to trade blockchain-based representations of traditional equities at any time, rather than being limited to standard market hours.

WHY IT MATTERS

Right now, if you want to buy or sell a stock on a major U.S. exchange, you can only do so during set business hours on weekdays. Cryptocurrency markets, by contrast, operate around the clock, every day of the year. This joint venture is attempting to bring that always-open model to stock trading by using a technology called tokenization. Tokenization is the process of creating a digital token on a blockchain that represents a real-world asset, in this case a share of stock. Think of it like a digital receipt that can be traded at any time because it lives on a blockchain network that never closes. The involvement of ICE, which runs the New York Stock Exchange, is significant because it shows that some of the biggest names in traditional finance are exploring blockchain-based solutions for markets that have operated the same way for decades.

Intercontinental Exchange, which owns and operates the New York Stock Exchange, has partnered with OKX, one of the largest cryptocurrency exchanges globally, to pursue regulatory approval for a platform that would enable 24/7 trading of tokenized versions of U.S.

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