Intercontinental Exchange, the parent of the New York Stock Exchange, and crypto exchange OKX are forming a 50-50 joint venture to bring NYSE-listed equities on-chain. Former New York Governor Andrew Cuomo will co-chair the venture.
The two companies announced the venture Monday in a joint statement. Pending regulatory approval, the venture is expected to operate as a U.S. registered broker-dealer and futures commission merchant, giving OKX's customers in the U.S. and abroad access to ICE futures and NYSE tokenized equities. ICE will co-chair the venture alongside Cuomo, who began working with OKX in 2023 and served as New York's 56th governor. The structure follows ICE's March investment in OKX, which valued the exchange at $25 billion.
The venture pairs one of the most established names in regulated market infrastructure with an exchange that serves more than 120 million customers. ICE operates the NYSE, multiple futures and options exchanges, and clearing houses, and it carries a Fortune 500 designation. The press release said the venture will focus on "building next-generation infrastructure for tokenized and digitally native financial products" and will explore further regulated, blockchain-enabled markets.
