OKXICE to open tokenised securities venue on blockchain on 23 November

OKXICE, a joint venture, plans to open a venue for tokenised securities on 23 November. The joint venture announced the plan on Wednesday, 11 November. The venue is built on blockchain, and The Block reports that it operates under an SEC innovation exemption.

At launch, the venue is set to list more than 70 assets. Decrypt names shares of Strategy, in common and preferred form, along with shares of Coinbase, Circle and Robinhood. CoinDesk adds 59 Direxion ETFs to the list. Decrypt reports that the first listings are led by crypto companies, after big technology firms chose not to take part.

The plan has faced pushback. Decrypt reports that 67 companies objected to having their shares listed on the venue. The sources do not say what those firms can do next, or whether the objections could affect the launch date. The Block names the venture OKXICC in its excerpt, while the other two sources use OKXICE.

Several points remain unclear. The sources do not explain how retail buyers would access the venue, what fees apply, or how the tokenised shares are tied to the underlying stock. They also do not say whether more companies will join before or after launch.